Purrfect Pets, Inc., had sales revenue of $1,718,380 during 2011. The company had credit card...
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Purrfect Pets, Inc., had sales revenue of $1,718,380 during 2011. The company had credit card discounts of $16,180 and sales returns of $3,500. The balance in accounts receivable on December 31, 2010 was $102,600 and on December 31, 2011 it was $127,800. Calculate the receivables turnover ratio and days to collect measure for 2011
| Receivables turnover ratio | |
| Days to collect | |
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