Martinez Company has a current accounts receivable balance of $245,000. Credit sales for the year just ended were $2,940,000. a. What is the company's receivables turnover? b. What is the company's days' sales in receivables? c. How long did it take on average for credit customers to pay off their accounts during the past year?

Martinez Company has a current accounts receivable balance of $245,000. Credit sales for the year just ended were $2,940,000. a. What is the company's receivables turnover? b. What is the company's days' sales in receivables? c. How long did it take on average for credit customers to pay off their accounts during the past 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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