Ordonez Lumber Yard has a current accounts receivable balance of $448,016. Credit sales for the year just ended were $9,153,500. a. What is the receivables turnover? b. What is the days sales in receivables? c. How long did it take on average for credit customers to pay off their accounts during the past year? Do not round intermediate calculations and round answers to 2 decimal places.

Ordonez Lumber Yard has a current accounts receivable balance of $448,016. Credit sales for the year just ended were $9,153,500. a. What is the receivables turnover? b. What is the days sales in receivables? c. How long did it take on average for credit customers to pay off their accounts during the past year? Do not round intermediate calculations and round answers to 2 decimal places.

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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Can you please give me correct answer the general accounting question?
How do I find the turnover and number of days' sales in receivables?