The following data are taken from the comparative balance sheets of Despina Company. Compute and interpret its

Question:

The following data are taken from the comparative balance sheets of Despina Company. Compute and interpret its accounts receivable turnover for year 2011 (competitors average a turnover of 7.5).

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...