Question

Accounts Receivable Analysis The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45 20Y3 20Y2 20Y1 Accounts receivable, end of year Sales on account 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 $135,400 $142,000 $150,000 873,810832,200 20Y3 20Y2 1. Accounts receivable turnover 2. Number of days' sales in receivables b. The collection of accounts receivable has turnover and the days This can be seen in both the in accounts receivable in the collection period.

Answer 1

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