Sat 11:40 PM Help cory Bookmarks Window v2.cengagenow.com Calculator Print Item Show Me How eBook Accounts Receivable Analysis The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45. 20Υ1 20Υ2 20Υ3 $600,000 $650,000 $725,000 Accounts receivable, end of year 4,687,500 5,637,500 Sales on account a. For 20Y2 and 20Y3, determine (1) the accounts receiva ble turnover and (2) 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. 20Υ2 20Υ3 1. Accounts receivable turnover days days 2. Number of days' sales in receivables < b. The collection of accounts receivable has improved in accounts receivable turnover and the . This can be seen in both the increase in the collection period. decrease Feedback Check My Work a.1. Divide net sales by average accounts receivable. Average Accounts receivable (Beginning Accounts Receivable + Ending Accounts Receivable) + 2. a.2. Divide average accounts receivable by average daily sales on account. Average ACCounts receivable = (Beginning Accounts Receivable + Ending Accounts Receivable)+ 2. Average daily sales on account Net Sales+365 days. b.Consider the relationship of the accounts involved. Consider the effects of the changes on the business. Check My Work Previous Next
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Sat 11:40 PM Help cory Bookmarks Window v2.cengagenow.com Calculator Print Item Show Me How eBook Accounts Receivable Analysis The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45. 20Υ1 20Υ2 20Υ3 $600,000 $650,000 $725,000 Accounts receivable, end of year 4,687,500 5,637,500 Sales on account a. For 20Y2 and 20Y3, determine (1) the accounts receiva ble turnover and (2) 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. 20Υ2 20Υ3 1. Accounts receivable turnover days days 2. Number of days' sales in receivables < b. The collection of accounts receivable has improved in accounts receivable turnover and the . This can be seen in both the increase in the collection period. decrease Feedback Check My Work a.1. Divide net sales by average accounts receivable. Average Accounts receivable (Beginning Accounts Receivable + Ending Accounts Receivable) + 2. a.2. Divide average accounts receivable by average daily sales on account. Average ACCounts receivable = (Beginning Accounts Receivable + Ending Accounts Receivable)+ 2. Average daily sales on account Net Sales+365 days. b.Consider the relationship of the accounts involved. Consider the effects of the changes on the business. Check My Work Previous Next
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