The following data exists for Carley Company 2016 2015 Accounts Receivable $50, 0000 $ 70,000 Net Sales 500,000 410,000 Calculate the accounts receivable turnover and the average collection period for accounts receivable in days for 2016 ...

The following data exists for Carley Company. _______________________2016 2015 Accounts Receivable ......$50, 0000............$ 70,000 Net Sales............................500,000.............410,000 Calculate

Question:

The following data exists for Carley Company.
_______________________2016 2015
Accounts Receivable ......$50, 0000............$ 70,000
Net Sales............................500,000.............410,000
Calculate the turnover and the average collection period for in days for 2016.
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...