Sunrise Corp. has an average accounts receivable of $2,500 million and a receivables turnover ratio of 10. What are the net credit sales? What is the average collection period (in days)?
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- A firm has $400,000 in credit sales and $100,000 in accounts receivable.Compute accounts receivable turnover and average number of collectiondays. How do these numbers relate to the terms of 2/10, n/30?How much is the account receivable turnover ratio?A company has an accounts receivable turnover ratio equal to 15. What is its number of days' sales in receivables?