Riverside Company has a current accounts receivable balance of $250,000. Its credit sales for the year just ended were $3,500,000. Calculate the receivables turnover and the days' sales in receivables for Riverside Company.

Riverside Company has a current accounts receivable balance of $250,000. Its credit sales for the year just ended were $3,500,000. Calculate the receivables turnover and the days' sales in receivables for Riverside Company.

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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Riverside Company has a current accounts receivable balance of
$250,000. Its credit sales for the year just ended were $3,500,000.
Calculate the receivables turnover and the days' sales in
receivables for Riverside Company.

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