ilrn/takeAssignment/takeAssignmentMain.do?invoker-&takeAssignmentSessionLocator=&inprogress%-false. eBook Show Me How Calculator E Print Item 2ΟΥ3 20Y2 2ΟΥ 1 Accounts receivable, end of year $149,600 $157,000 $164,200 Sales on account 1,057,770 1,011,780 a. For 20Y2 and 20Y3, 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. 20Υ3 20Y2 1. Accounts receivable turnover 6.9 6.3 2. Number of days' sales in X days days receivables b. The collection of accounts receivable has Imnproved This can be seen in both the increase y in accounts receivable turnover and the decrease V in the collection period. Feedback YCheck My Work a.1. Divide net sales by average accounts receivable. Average Accounts receivable = (Beginning Accounts Receivable + Ending Accounts Receivable) 2. a.2. Divide average accounts receivable by average daily sales on account. Average Accounts receivable = (Beginning Accounts Receivable + Ending Accounts Receivable) 2. Average daily sales on account Net Sales 365 days. Previous Next Check My Work 1 more Check My Work uses remaining.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Hi, I'm having trouble with number of days sales in receivables. Can someone help me?

ilrn/takeAssignment/takeAssignmentMain.do?invoker-&takeAssignmentSessionLocator=&inprogress%-false.
eBook
Show Me How
Calculator
E Print Item
2ΟΥ3
20Y2
2ΟΥ 1
Accounts receivable, end of year
$149,600
$157,000
$164,200
Sales on account
1,057,770
1,011,780
a. For 20Y2 and 20Y3, 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.
20Υ3
20Y2
1. Accounts receivable turnover
6.9
6.3
2. Number of days' sales in
X days
days
receivables
b. The collection of accounts receivable has Imnproved
This can be seen in both the increase y
in accounts receivable turnover and the
decrease V
in the collection period.
Feedback
YCheck My Work
a.1. Divide net sales by average accounts receivable.
Average Accounts receivable =
(Beginning Accounts Receivable + Ending Accounts Receivable) 2.
a.2. Divide average accounts receivable by average daily sales on account.
Average Accounts receivable =
(Beginning Accounts Receivable + Ending Accounts Receivable) 2.
Average daily sales on account Net Sales 365 days.
Previous
Next
Check My Work 1 more Check My Work uses remaining.
Transcribed Image Text:ilrn/takeAssignment/takeAssignmentMain.do?invoker-&takeAssignmentSessionLocator=&inprogress%-false. eBook Show Me How Calculator E Print Item 2ΟΥ3 20Y2 2ΟΥ 1 Accounts receivable, end of year $149,600 $157,000 $164,200 Sales on account 1,057,770 1,011,780 a. For 20Y2 and 20Y3, 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. 20Υ3 20Y2 1. Accounts receivable turnover 6.9 6.3 2. Number of days' sales in X days days receivables b. The collection of accounts receivable has Imnproved This can be seen in both the increase y in accounts receivable turnover and the decrease V in the collection period. Feedback YCheck My Work a.1. Divide net sales by average accounts receivable. Average Accounts receivable = (Beginning Accounts Receivable + Ending Accounts Receivable) 2. a.2. Divide average accounts receivable by average daily sales on account. Average Accounts receivable = (Beginning Accounts Receivable + Ending Accounts Receivable) 2. Average daily sales on account Net Sales 365 days. Previous Next Check My Work 1 more Check My Work uses remaining.
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