Question

Company reports the following: Sales: $81,057,770 Average accounts receivable (net): $83,950 Determine the a) accounts receivable turnover, and (b) number of days' sales receivables. When required, round your answers to one decimal place. Assume a 365-day year. a) Accounts receivable turnover: Accounts receivable turnover = Sales / Average accounts receivable (net) b) Number of days' sales receivables: Number of days' sales receivables = 365 / Accounts receivable turnover

Name: company reports the following sales 81057770 average accounts receivable net 83950 determine the a accounts receivable turover and b number of days sales receivables when required round vour 09459
Uploaded: 2022-01-06T09:04:31-08:00
Duration: 5 min 53 s
Channel: Bharat Koirala
Description: company reports the following sales 81057770 average accounts receivable net 83950 determine the a accounts receivable turover and b number of days sales receivables when required round vour 09459

          Company reports the following:
Sales: $81,057,770
Average accounts receivable (net): $83,950

Determine the a) accounts receivable turnover, and (b) number of days' sales receivables. When required, round your answers to one decimal place. Assume a 365-day year.

a) Accounts receivable turnover:
Accounts receivable turnover = Sales / Average accounts receivable (net)

b) Number of days' sales receivables:
Number of days' sales receivables = 365 / Accounts receivable turnover

Added by Alberto P.

Horngren’s Cost Accounting

Srikant M. Datar, Madhav V. Rajan 16th Edition

Instant Answer

Solved by Expert Bharat Koirala

01/06/2022

Step 1

Accounts receivable turnover = Sales / Average accounts receivable (net) Accounts receivable turnover = $81,057,770 / $83,950 Accounts receivable turnover = 966.2 b) To calculate the number of days' sales receivables, we need to divide 365 by the accounts Show more…

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Company reports the following: Sales: $81,057,770 Average accounts receivable (net): $83,950 Determine the a) accounts receivable turnover, and (b) number of days' sales receivables. When required, round your answers to one decimal place. Assume a 365-day year. a) Accounts receivable turnover: Accounts receivable turnover = Sales / Average accounts receivable (net) b) Number of days' sales receivables: Number of days' sales receivables = 365 / Accounts receivable turnover