Accounts Receivable Analysis A company reports the following: Sales $4,000,000 Average accounts receivable (net) 200,000 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables days
Accounts Receivable Analysis A company reports the following: Sales $4,000,000 Average accounts receivable (net) 200,000 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year. a. Accounts receivable turnover b. Number of days' sales in receivables days
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A company reports the following:
| Sales | $4,000,000 |
| Average accounts receivable (net) | 200,000 |
Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year.
| a. Accounts receivable turnover | |
| b. Number of days' sales in receivables | days |
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