Question: Problem 3-3 Calculating the Average Collection Period ILO 2 Ordonez Lumber Yard has a current accounts receivable balance of $442,516. Credit sales for the year
Problem 3-3 Calculating the Average Collection Period ILO 2 Ordonez Lumber Yard has a current accounts receivable balance of $442,516. Credit sales for the year just ended were $8,423.205 What is the receivables turnover? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Receivables turnover times What is the days sales in receivables? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Days sales in receivables How long did it take on average for credit customers to pay off their accounts during the past year? (Do not round intermediate calculations days 32.16.) Average collection period days
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