Accounts Receivable Analysis
A company reports the following:
Sales $1,236,620
Average accounts receivable (net) 56,210
Determine (a) the accounts receivable turnover and (b) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year.
a. Accounts receivable turnover fill in the blank 1
b. Number of days' sales in receivables fill in the blank 2 days
