A company reports the following: Sales $1,333,710 Average accounts receivable (net) 63,510 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Assume a 365-day year.

A company reports the following: Sales $1,333,710 Average accounts receivable (net) 63,510 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Assume a 365-day year.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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Question

A company reports the following: please need answer the accounting question

A company reports the following:
Sales
$1,333,710
Average accounts receivable (net) 63,510
Determine (a) the accounts receivable turnover and
(b) the number of days' sales in receivables. Assume
a 365-day year.

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