a. Receivables turnover = Credit sales / Receivables = $6,787,626 / $527,164 = 12.88 times
b. Days' sales in receivables = 365 days / Receivables turnover = 365 / 12.88 = 28.35 days
c. Days for account payment = 28.35 days
Trout Lumber Yard has a current accounts receivable balance of $527,164. Credit sales for the year...
Ordonez Lumber Yard has a current accounts receivable balance of $446,016. Credit sales for the year just ended were $6,853,080 What is the receivables turnover? (Do not round intermediate calculations and round your answer to 2 decimal places, o.g, 32.16.) Receivables turnover times What is the days' sales in receivables? (Do not round intermediate calculations and round your answer to 2 decimal places, e.932.16) Days' sales in receivables decimal places,e.g, 32.16.) Average collection period days for credit customers to pay...
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