Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. a company reports the following: sales $255,500

A company reports the following: Sales $255,500 Average accounts receivable...

90.2K

Verified Solution

Question

Accounting

A company reports the following:

Sales $255,500
Average accounts receivable (net) 25,550

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 fill in the blank 2 days

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

Which of the following statements is INCORRECT regarding life history traits? A. Variations in life history traits can...

Biology
1.2K views

While much of the oxygen produced by photosynthesis is released into th atmosphere through stroma...

Basic Math
1.2K views

Use a calculator with a y key or a key to solve the following.The exponential...

Algebra
1.2K views

Calculate the following expression: 10?-10

Accounting
1.2K views

The Financial Accounting Standards Board is: Select one: a. Responsible for the review and audit...

Accounting
1.2K views

In 2017, Dickens Company had a beginning balance in its Cash Dividend Payable account of...

Accounting
1.2K views

Marlett Bhd is a manufacturing company that produces a special grinding machine called the Superpower....

Accounting
1.2K views

Kellogg Annual Reports Link: https://investor.kelloggs.com/financials/annual-reports/default.aspx Kellogg 2021 Annual Report https://s1.q4cdn.com/243145854/files/doc_financials/2021/ar/Kellogg-Company_AR_2022_Bookmarked.pdf Kellogg 2020 Annual...

Accounting
1.2K views

Please do d) and show all the steps Your answer is correct. What is...

Finance
1.2K views

Suppose that Texas Trucking (TT) has earnings per share of $3.45 and EBITDA of $43...

Accounting
1.2K views

Aero Company has implemented a gain sharing compensation plan for its production employees. The plan...

Accounting
1.2K views

BTN 6-3 Harriet Knox, Ralph Patton, and Marcia Diamond work for a family physician, Dr....