A company reports the following: Net sales .......................................................$1,120,000 Average accounts receivable (net) ............................ 72,000 Determine (a) the
Question:
Net sales .......................................................$1,120,000
Average accounts receivable (net) ............................ 72,000
Determine (a) the accounts receivable turnover and (b) the days' sales in receivables, using both methods for calculating the days' sales in receivables ratio. Round to one decimal place.
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Accounting Volume 2
ISBN: 978-0176509743
2nd Canadian edition
Authors: James Reeve, Jonathan Duchac, Sheila Elworthy, Carl S. Warren
Question Posted: