Accounts receivable analysis
A company reports the following:
Sales $5,250,000
Average accounts receivable (net) 350,000
Determine (a) the accounts receivable turnover and (b) the days' sales in receivables. Round interim calculations to the
nearest dollar and final answers to one decimal place. Assume a 365-day year.
a. Accounts receivable turnover
b. Days' sales in receivables days