THE FOLLOWING DATA ARE TAKEN FROM THE FINANCIAL STATEMENTS OF KRAWCHECK INC. TERMS OF ALL SALES ARE 2/10, N/55. 2014 2013 2012 ACCOUNTS RECEIVABLE, EOY 500,000 475,000 440,000 NET SALES ON ACCOUNT 3,412,500 2,836,500 FOR 2013 AND 2014, DETERMINE (1) THE ACCOUNTS RECEIVABLE TURNOVER AND (2) THE NUMBER OF DAYS' SALES IN RECEIVABLES. ROUND TO THE NEAREST DOLLAR AND ONE DECIMAL PLACE.
THE FOLLOWING DATA ARE TAKEN FROM THE FINANCIAL STATEMENTS OF KRAWCHECK INC. TERMS OF ALL SALES ARE 2/10, N/55. 2014 2013 2012 ACCOUNTS RECEIVABLE, EOY 500,000 475,000 440,000 NET SALES ON ACCOUNT 3,412,500 2,836,500 FOR 2013 AND 2014, DETERMINE (1) THE ACCOUNTS RECEIVABLE TURNOVER AND (2) THE NUMBER OF DAYS' SALES IN RECEIVABLES. ROUND TO THE NEAREST DOLLAR AND ONE DECIMAL PLACE.
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 9E
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THE FOLLOWING DATA ARE TAKEN FROM THE FINANCIAL STATEMENTS OF KRAWCHECK INC. TERMS OF ALL SALES ARE 2/10, N/55.
2014 2013 2012
ACCOUNTS RECEIVABLE, EOY 500,000 475,000 440,000
NET SALES ON ACCOUNT 3,412,500 2,836,500
FOR 2013 AND 2014, DETERMINE (1) THE ACCOUNTS RECEIVABLE TURNOVER AND (2) THE NUMBER OF DAYS' SALES IN RECEIVABLES. ROUND TO THE NEAREST DOLLAR AND ONE DECIMAL PLACE.
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