A company reports the following: Sales ...........................................................................................$4,560,000 Average accounts receivable (net) ..................................................380,000 Determine (a) The accounts receivable

Question:

A company reports the following:
Sales ...........................................................................................$4,560,000
Average accounts receivable (net) ..................................................380,000

Determine

(a) The accounts receivable turnover and

(b) The number of days’ sales in receivables. 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...

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