The following data exists for Sandhill Company. 2020 2019 Accounts Receivable $60,000 $84,000 Net Sales 590,400 492,000 Calculate the accounts receivable turnover and the average collection period for accounts receivable in days for 2020. (Round account receivable turnover to 1 decimal place, e.g. 15.2 and average collection period to 0 decimal places, e.g. 15. Use 365 days for calculation.) Accounts receivable turnover enter a number of times rounded to 1 decimal place times Average collection period enter a number of days rounded to 0 decimal places days
The following data exists for Sandhill Company. 2020 2019 Accounts Receivable $60,000 $84,000 Net Sales 590,400 492,000 Calculate the accounts receivable turnover and the average collection period for accounts receivable in days for 2020. (Round account receivable turnover to 1 decimal place, e.g. 15.2 and average collection period to 0 decimal places, e.g. 15. Use 365 days for calculation.) Accounts receivable turnover enter a number of times rounded to 1 decimal place times Average collection period enter a number of days rounded to 0 decimal places days
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
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The following data exists for Sandhill Company.
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2020
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2019
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||||
|---|---|---|---|---|---|
|
|
$60,000
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$84,000
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|||
|
Net Sales
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590,400
|
492,000
|
Calculate the accounts receivable turnover and the average collection period for accounts receivable in days for 2020. (Round account receivable turnover to 1 decimal place, e.g. 15.2 and average collection period to 0 decimal places, e.g. 15. Use 365 days for calculation.)
|
Accounts receivable turnover
|
enter a number of times rounded to 1 decimal place
|
times
|
|
|---|---|---|---|
|
Average collection period
|
enter a number of days rounded to 0 decimal places
|
days
|
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