Solution-Compute for each year the accounts receivable

Compute for each year the accounts receivable turnover

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Brief Exercise 18-11 The following data are taken from the financial statements of Rainsberger Company.

2018	2017
Accounts receivable (net), end of year	$540,000	$475,000
Net sales on account	3,950,000	3,170,000
Terms for all sales are 1/10, n/60.

Compute for each year the accounts receivable turnover. At the end of 2016, accounts receivable (net) was $500,000. (Round answers to 1 decimal place, e.g. 1.6.)

Compute for each year the average collection period. At the end of 2016, accounts receivable (net) was $500,000. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.)

Reference no: EM131822324

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Compute for each year the accounts receivable turnover

Reference no: EM131822324

Reference no: EM131822324

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