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The following data are taken from the financial statements of Cullumber Company. Accounts receivable (net),...

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Accounting

The following data are taken from the financial statements of Cullumber Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 (a) Your answer is correct. 2022 Accounts receivable turnover $587,000 4,922,400 2022 2021 $ 585,000 3,931,275 Compute for each year the accounts receivable turnover. At the end of 2020, accounts receivable was $554,500. (Round answers to 1 decimal place, e.g. 12.5.) 8.4 h times 2021 6.9 times
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The following data are taken from the financial statements of Cullumber Company. (a) Youransweris correct. Compute for each year the accounts receivable turnover. At the end of 2020 , accounts receivable was $554,500. (Round answers to 1 decimal place, eg. 12.5.) Compute for each year the average collection period. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for colculation.)

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