The following data are taken from the financial statements:? (a)Assuming that credit terms on all sales are n/45, determine for each year:
(1)Accounts receivable turnover
(2)Number of days' sales in receivables (Round intermediate calculation to the nearest whole number and your final answer to two decimal places.)
(b)Comment on any significant trends revealed by the data.

Question

The following data are taken from the financial statements:?   (a)Assuming that credit terms on all sales are n/45, determine for each year:
(1)Accounts receivable turnover
(2)Number of days' sales in receivables  (Round intermediate calculation to the nearest whole number and your final answer to two decimal places.)
(b)Comment on any significant trends revealed by the data.

Quizplus · Accepted Answer

The Answer of The following data are taken from the financial statements:?   (a)Assuming that credit terms on all sales are n/45, determine for each year:
(1)Accounts receivable turnover
(2)Number of days' sales in receivables  (Round intermediate calculation to the nearest whole number and your final answer to two decimal places.)
(b)Comment on any significant trends revealed by the data.

The Following Data Are Taken from the Financial Statements