Sandhill Co follows BSPE. It manufactures swatshirts for sale to athleticwas retailers. The following summary information was
available for Sandhill for the year ended December :
a
Your answer is correct:
Part
During Sandhill had the following transactions:
Total sales were $ Of the total sales amount, $ was on a credit besis.
On June a $ account receivable of a maior customer wras settled, with $ andhill accepting a $ oneyear,
note, with the interest payable at maturity.
Sanchill collected $ on accounts receivable during the year.
$ and Accrued Liabilities was $
No Account Titles and Explanation
Debit
Credit
Acoounta Racalvabla
To record sales revanue',
Notso Rucalvable
Acoounta Rucalvabla
To record notes receivable
Acoourta Rucalvabla
To record cash received,
Iritareat Recalvable
To record interest accerued
b
Calculate the current ratio and the receivables turnover ratio for Sanchill at December Round answers to decimal
places, es
Current Ratio
Accounts Receivable Turnover
times
