A company reports the following: Sales $755,550 Average accounts receivable (net) 32,850 Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year.

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 9E
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Accounts Receivable Analysis

A company reports the following:

Sales $755,550
Average accounts receivable (net) 32,850

Determine (a) the accounts receivable turnover and (b) the number of 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 fill in the blank 1
b.  Number of days' sales in receivables
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