XYZ's receivables turnover is 10x. The accounts receivable at year-end are $600,000. The average collection period is

Question:

XYZ's receivables turnover is 10x. The at year-end are $600,000. The average collection period is 90 days (3 months). What was the sales figure for the year?

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...