A company reports the following:   Sales $1,359,990   Average accounts receivable (net) 83,950 Round your answers to one decimal place. Assume a 365-day year. a.  Determine the accounts receivable turnover. fill in the blank 1 b.  Determine the number of days' sales in receivables. fill in the blank 2

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 4BE
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A company reports the following:

  Sales $1,359,990
  Average accounts receivable (net) 83,950

Round your answers to one decimal place. Assume a 365-day year.

a.  Determine the accounts receivable turnover.
fill in the blank 1

b.  Determine the number of days' sales in receivables.
fill in the blank 2

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