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The following data are taken from the financial statements ofBlossom Company. 2017 2016 Accounts receivable (net), end of year$550,000$520,000Net sales on account4,500,0003,900,000Terms for all sales
The following data are taken from the financial statements ofBlossom Company.
2017
2016
Accounts receivable (net), end of year$550,000$520,000Net sales on account4,500,0003,900,000Terms for all sales are 1/10, n/45
(a)
Compute for each year the accounts receivable turnover. At the end of 2015, accounts receivable was $480,000.(Round answers to 1 decimal place, e.g. 12.5.)
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