The following data are taken from the financial statements of McKee Technology Inc. Terms of...
90.2K
Verified Solution
Link Copied!
Question
Accounting
The following data are taken from the financial statements of McKee Technology Inc. Terms of all sales are 2/10, n/55.
| 2016 | 2015 | 2014 | ||||
| Accounts receivable, end of year | $149,600 | $157,000 | $164,200 | |||
| Net sales on account | 827,820 | 786,940 | ||||
a. For 2015 and 2016, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round answers to one decimal place. Assume a 365-day year.
| 2016 | 2015 | |||
| 1. Accounts receivable turnover | ? | ? | ||
| 2. Number of days' sales in receivables | ? | days | ? | days |
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.