Balance Sheets: Accounts receivable, net Income statements: Sales revenue Receivables turnover ratio Q4 Receivables turnover ratio 03 Average collection period Q4 Average collection period 03 6/30/2020 (04) $ 15,361 $ 24,545 Required: Compute the receivables turnover ratio and the average collection period for Q4 and Q3. Assume that each quarter consists of S days. Note: Round "Receivables turnover ratio" answers to 3 decimal places and "Average collection period" answers to 2 decimall places. 63. 1.395 times 1.426 times Three Months Ended 3/31/2020 (03) 12/31/2019 (02) $ 19,805 $ 12,895 $ 23,325 $ 22,110 65 20 days days

Balance Sheets: Accounts receivable, net Income statements: Sales revenue Receivables turnover ratio Q4 Receivables turnover ratio 03 Average collection period Q4 Average collection period 03 6/30/2020 (04) $ 15,361 $ 24,545 Required: Compute the receivables turnover ratio and the average collection period for Q4 and Q3. Assume that each quarter consists of S days. Note: Round "Receivables turnover ratio" answers to 3 decimal places and "Average collection period" answers to 2 decimall places. 63. 1.395 times 1.426 times Three Months Ended 3/31/2020 (03) 12/31/2019 (02) $ 19,805 $ 12,895 $ 23,325 $ 22,110 65 20 days days

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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