At the end of 2020, a company has:

Cash  $76,000, 

Net Accounts Receivable of $30,000,

Net Accounts Payable of $27,000, 

Net Sales of $99,000.

The previous year’s Net Accounts Receivable was $36,000.

Compute:

(i). The Receivables turnover for 2020;

(ii). Average days’ Sales Uncollected; Assume 360 days in a year;

Answer rating: 100% (QA)

To compute the receivables turnover for 2020 and the average days sales uncollected well use the fol... View the full answer