General accounting question Small Fry Pools generally carries anamount of receivables equal to $80,000,and its annual credit sales equal $2.4million. What are Small Fry's (a)receivables turnover and (b) receivablescollection period (DSO)?

Step 1: Define Receivables TurnoverThe ratio of the annual credit sales relative to the average…

Answered: Small Fry Pools generally carries an…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10EB: Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts...

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Small Fry Pools generally carries an amount of receivables equal to $80,000, and its annual credit sales equal $2.4 million. What are Small Fry's (a) receivables turnover and (b) receivables collection period (DSO)?