A company reports the following: Sales $671,600 Average accounts receivable (net) 67,160 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
A company reports the following: Sales $671,600 Average accounts receivable (net) 67,160 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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Accounts Receivable Analysis
A company reports the following:
Sales
$671,600
Average accounts receivable (net)
67,160
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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Transcribed Image Text:engageNOWv2 | Online teachir X
* CengageNOWv2| Online teachir x
.com/ilrm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogre. *
A eBook
Show Me How
Accounts Receivable Analysis
A company reports the following:
Sales
$671,600
Average accounts receivable (net)
67,160
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
Previous
Next
Check My Work
11:16 AM
67°F Sunny A O E D a ) 12/3/2021
n sc
hone
backsoce
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