The 2014 and 2015 statements of financial position for Jackson and Sons showed net accounts receivable of

Question:

The 2014 and 2015 statements of financial position for Jackson and Sons showed net of $10,000 and $14,000, respectively, and inventory of $8,000 and $6,000, respectively. The company's 2015 income statement showed net sales of $109,500 and cost of goods sold of $70,000. Compute the following ratios for 2015:
1. turnover
2. Days' sales in receivables
3. Inventory turnover
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...