A company reports the following: Line Item Description Amount Sales $1,292,100 Average accounts receivable (net) 73,000 Determine (a) the accounts receivable turnover and (b) the days’ sales in receivables. When required, round your answers to one decimal place. Assume a 365-day year. Line Item Description Answer a. Accounts receivable turnover fill in the blank 1 b. Days' Sales in Receivables fill in the blank 2 days
A company reports the following: Line Item Description Amount Sales $1,292,100 Average accounts receivable (net) 73,000 Determine (a) the accounts receivable turnover and (b) the days’ sales in receivables. When required, round your answers to one decimal place. Assume a 365-day year. Line Item Description Answer a. Accounts receivable turnover fill in the blank 1 b. Days' Sales in Receivables fill in the blank 2 days
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 8PB: The following select financial statement information from Vortex Computing. Compute the accounts...
Related questions
Question
A company reports the following:
| Line Item Description | Amount |
|---|---|
| Sales | $1,292,100 |
| Average accounts receivable (net) | 73,000 |
Determine (a) the accounts receivable turnover and (b) the days’ sales in receivables. When required, round your answers to one decimal place. Assume a 365-day year.
| Line Item Description | Answer |
|---|---|
| a. Accounts receivable turnover | fill in the blank 1 |
| b. Days' Sales in Receivables | fill in the blank 2 days |
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