Based on the following data, what is the accounts receivable turnover? Line Item Description Amount Sales on account during year $437,061 Cost of goods sold during year 206,268 Accounts receivable, beginning of year 46,698 Accounts receivable, end of year 45,197 Inventory, beginning of year 93,276 Inventory, end of year 109,687

Assume the following sales data for a company: Line Item Description Amount Current year $891,303 Preceding year 515,759 What is the percentage increase in sales from the preceding year to the current year?

Selected data from Gibson Company follow. Accounts receivable Allowance for doubtful accounts Net accounts receivable Inventories, lower of cost or market Net credit sales Net cash sales Net sales Cost of goods sold Balance Sheets As of December 31 Selling, general, and administrative expenses Other expenses Total operating expenses a. Accounts receivable turnover b. Inventory turnover c. Net margin Income Statement For the Years Ended December 31 Year 3 $395,000 (19,750) $375,250 $480,500 Required a. Compute the accounts receivable turnover for Year 3. b. Compute the inventory turnover for Year 3. c. Compute the net margin for Year 2. (For all requirements, round your answers to 2 decimal places.) times times % Year 2 $371,000 (14,840) $356,160 $442,000 Year 3 $2,006,000 419,000 Year 2 $1,756,000 309,000 2,425,000 2,065,000 1,608,000 1,436,000 240,500 214,100 39,500 22,100 $1,888,000 $1,672,200

The following data are taken from the financial statements of Colby Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 Accounts Receivable turnover Average collection period (b) 2022 $550,000 2022 2021 4,300,000 4,000,000 7.9 times $540,000 2021 7.5 times 46.2 days 48.7 days What conclusions about the management of accounts receivable can be drawn from the accounts receivable turnover and the average collections period.