The following data are taken from the financial statements of Sigmon Inc. Terms of all sales...

Transcribed Image Text:

The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45. 20Y3 20Y2 20Y1 Accounts receivable, end of year $725,000 Sales on account 5,637,500 $650,000 4,687,500 $600,000 a. For 2012 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to on decimal place. Assume a 365-day year. 20Y3 20Y2 1. Accounts receivable turnover 2. Number of days' sales in receivables days days -The collection of accounts receivable has This can be seen in both the in accounts receivabl rnover and the in the collection period. The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45. 20Y3 20Y2 20Y1 Accounts receivable, end of year $725,000 Sales on account 5,637,500 $650,000 4,687,500 $600,000 a. For 2012 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to on decimal place. Assume a 365-day year. 20Y3 20Y2 1. Accounts receivable turnover 2. Number of days' sales in receivables days days -The collection of accounts receivable has This can be seen in both the in accounts receivabl rnover and the in the collection period.