Calculating the Average Accounts Receivable, the Accounts Receivable Turnover Ratio, and the Accounts Receivable Turnover...
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Calculating the Average Accounts Receivable, the Accounts Receivable Turnover Ratio, and the Accounts Receivable Turnover in Days Last year, Dogwood Company had net sales of $9,525,000 and cost of goods sold of $4,812,000. Dogwood had the following balances: January 1 December 31 Accounts receivable $725,000 $775,000 Inventory 450,000 425,000 Required: Note: Round answers to one decimal place. Assume 365 days per year. 1. Calculate the average accounts receivable. $ 2. Calculate the accounts receivable turnover ratio. times 3. Calculate the accounts receivable turnover in days. days
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