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Social ScienceA recent annual report for NPS contained the following data:(dollars in thousands)Previous YearCurrent Year$3,617,000183,000$ 4,517,000150,000Accounts receivableLess: Allowance for doubtful accounts$ 4,367,000$3,434,000Net accounts receivable$ 35,797,000Net sales (assume all on credit)Required:1. Determine the receivables turnover ratio and average days sales in receivables for the current year. (Use 365 days a year. Do notround intermediate calculations. Enter yoanswers in thousands not in dollars.)Receivables Turnover RatioNumerator0 timesDenominatorAverage Days Sales in ReceivablesNumerator0 daysDenominatorII
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A recent annual report for NPS contained the following data: (dollars in thousands) Previous Year Current Year $3,617,000 183,000 $ 4,517,000 150,000 Accounts receivable Less: Allowance for doubtful accounts $ 4,367,000 $3,434,000 Net accounts receivable $ 35,797,000 Net sales (assume all on credit) Required: 1. Determine the receivables turnover ratio and average days sales in receivables for the current year. (Use 365 days a year. Do not round intermediate calculations. Enter yo answers in thousands not in dollars.) Receivables Turnover Ratio Numerator 0 times Denominator Average Days Sales in Receivables Numerator 0 days Denominator II
Expert Answer
Here, receivable turnover ratio is calculated by dividing net credit sales with the average account receivable. Average account receivable is calculated by ...
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Net credit sales Receivables turnover ratio Average accounts receivable 35,797 3,955 =9.02times
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