General accounting A company has an accounts receivable turnover ratioof 8.5. What is its number of days' sales in receivables(also known as the average collection period)?

Step 1: Define Average Collection PeriodThe Average Collection Period (or Days' Sales in…

Answered: A company has an accounts receivable…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 4BE

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A company has an accounts receivable turnover ratio of 8.5. What is its number of days' sales in receivables (also known as the average collection period)?