Calculate the accounts receivable turnover
and average collection period. Assume that average net accounts
receivable were $325,000. (Use 365 days for
calculation. Round average collection period to 1 decimal place,
e.g. 15.1.)
Homework Answers
Accounts Receivable Turnover = Credit sales/Average net receivables
= 3,900,000/325,000
= 12 times
Average collection period = 365/Accounts Receivable Turnover
= 365/12
= 30.4 days
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