A company reports the following:Sales $4,000,000Average accounts receivable (net) 200,000Determine (a) the accounts receivable turnover and (b) the number of days’ sales in receivables. Round to one decimal place.
A company reports the following:Sales $4,000,000Average accounts receivable (net) 200,000Determine (a) the accounts receivable turnover and (b) the number of days’ sales in receivables. Round to one decimal place.
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 4BE
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Question
A company reports the following:
Sales $4,000,000
Average accounts receivable (net) 200,000
Determine (a) the accounts receivable turnover and (b) the number of days’ sales in receivables. Round to one decimal place.
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