Nexus Ltd. recorded $1,050,000 in net credit sales during 2022. Its accounts receivable at the start of the year were $90,000 and ended the year at $105,000. (a) What is the receivables turnover? (b) What is the average collection period in days?

Nexus Ltd. recorded $1,050,000 in net credit sales during 2022. Its accounts receivable at the start of the year were $90,000 and ended the year at $105,000. (a) What is the receivables turnover? (b) What is the average collection period in days?

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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Hi expert please help me accounting question

Nexus Ltd. recorded $1,050,000 in net credit sales
during 2022. Its accounts receivable at the start of the
year were $90,000 and ended the year at $105,000.
(a) What is the receivables turnover?
(b) What is the average collection period in days?

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What was the accounts receivable turnover ratio?