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The following data are taken from the financial statements of Waterway Company. 2022 2021 Accounts receivable (net), end of year $500,000 $475,000 Net sales
The following data are taken from the financial statements of Waterway Company. 2022 2021 Accounts receivable (net), end of year $500,000 $475,000 Net sales on account 3,997,500 3,200,000 Terms for all sales are 1/10, n/45 (a1) Compute for each year the accounts receivable turnover. At the end of 2020, accounts receivable (net) was $525,000. (Round answers to 1 decimal place, e.g. 1.6.) Accounts receivable turnover 2022 times 2021 times
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