Accounts Receivable Analysis A company reports the following: Sales $275,940 Average accounts receivable (net) 39,420 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 fill in the blank 1 b.  Number of days' sales in receivables fill in the blank 2 days

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Accounts Receivable Analysis

A company reports the following:

Sales $275,940
Average accounts receivable (net) 39,420

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 fill in the blank 1
b.  Number of days' sales in receivables fill in the blank 2 days

 

 

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