Homework Answers
Accounts receivable turnover = 12.94
| Accounts receivable turnover = | (Net Sales/ Average Accounts receivable) | ||||
| = | 12,491,470,000/ 965,087,500 | ||||
| 12.94 | |||||
| Average Accounts receivable = | (Beginning Account receivable +Closing Account receivable) /2 | ||||
| = | (956,890,000+973,285,000)/2 | ||||
| $965,087,500 | |||||
Average collection period - 28.21 days
| Average collection period = (365/Account receivable turnover) | |
| = 365 / 12.94 | |
| 28.21 Days | |
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Compute Sage Hill’s accounts receivable turnover.
Accounts receivable
turnover
times
Compute Sage Hill’s average collection period for accounts
receivable in days.
Average collection period for
accounts receivable
days
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answer to 1 decimal place, e.g. 12.5.)
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enter the accounts receivable turnover ratio in times rounded
to 1 decimal place
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