Data from the accounting records of Wise Company are presented here. Accounts receivable Net sales 2025 2025 Accounts receivable turnover 2025 Collection period Calculate accounts receivable turnover and the average collection period for 2025 and 2024. (Use 365 days for calculation. Round intermediate calculations to the nearest whole number, and round final answers to two decimal places (e.g., 12.30).) 2024 Accounts receivable turnover 2024 Collection period 2024 $35,030 $32,070 $32,930 392,535 388,700 282,100 2023 11.20 times 12.12 times 32.56 days 30.12 days

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Please show your work. Also Please do not use Excel.

Data from the accounting records of Wise Company are presented here.
Accounts receivable
Net sales
2025
$35,030
392,535
2025 Accounts receivable turnover
2025 Collection period
2024 Accounts receivable turnover
2024 Collection period
Calculate accounts receivable turnover and the average collection period for 2025 and 2024. (Use 365 days for calculation. Round intermediate calculations to the nearest whole number, and
round final answers to two decimal places (e.g., 12.30).)
2024
2023
$32,070 $32,930
388,700 282,100
11.20
times
12.12 times
32.56 days
30.12 days
Transcribed Image Text:Data from the accounting records of Wise Company are presented here. Accounts receivable Net sales 2025 $35,030 392,535 2025 Accounts receivable turnover 2025 Collection period 2024 Accounts receivable turnover 2024 Collection period Calculate accounts receivable turnover and the average collection period for 2025 and 2024. (Use 365 days for calculation. Round intermediate calculations to the nearest whole number, and round final answers to two decimal places (e.g., 12.30).) 2024 2023 $32,070 $32,930 388,700 282,100 11.20 times 12.12 times 32.56 days 30.12 days
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