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The following data are taken from the financial statements of Cullumber Company. 2022 2021 Accounts receivable (net), end of year $560,400 $564,000 Net sales on
The following data are taken from the financial statements of Cullumber Company. 2022 2021 Accounts receivable (net), end of year $560,400 $564,000 Net sales on account 4,610,040 4,032,800 Terms for all sales are 1/10, n/45 (a) Compute for each year the accounts receivable turnover. At the end of 2020, accounts receivable was $572,000. (Round answers to 1 decimal place, e.g. 12.5.) Accounts receivable turnover 2022 times 2021 times
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