Average Accounts Receivable, Accounts Receivable Turnover Ratio, Accounts Receivable Turnover in Days Montalcino Company had net sales
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Question:
Average Accounts Receivable, Accounts Receivable Turnover Ratio, Accounts Receivable Turnover in Days
Montalcino Company had net sales of $336,000. Montalcino had the following balances:
January 1 | December 31 | |
Accounts receivable | $82,800 | $57,200 |
Inventories | 114,000 | 104,000 |
Required:
Assume 365 days per year.
1. Calculate the average accounts receivable.
$
2. Calculate the accounts receivable turnover ratio. Round to one decimal place.
times
3. Calculate the accounts receivable turnover in days. Round to one decimal place.
days
Related Book For
Managerial Accounting The Cornerstone of Business Decision Making
ISBN: 978-1337115773
7th edition
Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
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