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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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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