The financial statements of winery Andrew Peller Limited reported net sales of $382,306 ...

80.2K

Verified Solution

Question

Accounting

The financial statements of winery Andrew Peller Limited reported net sales of $382,306
thousand for its year ended March 31,2020. Accounts receivable were $34,096 thousand at March
31,2020, and $29,801 thousand at March 31,2019.
Calculate the company's accounts receivable turnover ratio and the average collection period for
accounts receivable in days. (Round answers to 2 decimal places, e.g.15.25. Use 365 days for
calculation.)
Accounts receivable turnover ratio
Average collection period for accounts receivable in days
image

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