Homework Answers
| accounts receivable turnover = net sale /average accounts receivable | ||||||
| average accounte receivable | ||||||
| 2020 = (540000+555000)/2 = 547500 | ||||||
| 2019 = (523000+540000)/2 = 531500 | ||||||
| accounts receivable turnover 2020 = 4489500/547500 = 8.2 times | ||||||
| accounts receivable turnover 2019 = 3614200/531500= 6.8 times | ||||||
| average collection period = 365/accounts receivable turnover | ||||||
| average collection period 2020 = 365/8.2 = 44.5 days | ||||||
| average collection period 2019 = 365/6.8 = 53.7 days |
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3.
4.
4 homework questions, Help !
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1.2.
3.
4.
4 homework questions, Help !
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Recent financial statements of Sage Hill Ship Builders, Inc.
report net sales of $676,200,000. Accounts receivable are
$62,500,000 at the beginning of the year and $87,900,000 at the end
of the year. (Round answers to 2 decimal places, e.g.
50.27. Use 365 days for calculation.)
Compute Sage Hill’s accounts receivable turnover.
Accounts receivable
turnover
times
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