19. The following information is taken from the records of Fellows Services Ltd. 2012 2011...
Question:
19. The following information is taken from the records of Fellows Services Ltd.
2012 | 2011 | 2010 | |
Accounts receivable | $100,700 | $95,400 | $89,640 |
Allowance for doubtful accounts | 3,020 | 2,860 | 2,690 |
Sales revenue | 1,037,210 | 1,097,100 | 1,120,500 |
Sales discounts | 14,521 | 17,554 | 16,808 |
Instructions:
(a) Calculate the 2012 and 2011 accounts receivable turnover and collection period.
(b) Comment on any improvement or weakening in Fellows’ management of its receivables.
Financial Reporting and Analysis
ISBN: 978-0078025679
6th edition
Authors: Flawrence Revsine, Daniel Collins, Bruce, Mittelstaedt, Leon