Question: Problem 3-3 Calculating the Average Collection Period [LO2] Aguilera Corp. has a current accounts receivable balance of $333,000. Credit sales for the year just ended

 Problem 3-3 Calculating the Average Collection Period [LO2] Aguilera Corp. has

Problem 3-3 Calculating the Average Collection Period [LO2] Aguilera Corp. has a current accounts receivable balance of $333,000. Credit sales for the year just ended were $4,015,980. What is the company's receivables turnover? (Do not round intermediate calculations. Round your answer to 2 decimal places, o.g., 32.16.) Receivables turnover times What is the company's days' sales in receivables? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) Days' sales in receivables days How long did it take on average for credit customers to pay off their accounts during the past year? (Use 365 days a year. Do not round intermediate calculations. Round your answer to 2 decimal places e.g., 32.16.) days Average collection period Hints References eBook & Resources

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!