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Compute its accounts receivable turnover

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Question: The following information is from the annual financial statements of Waseem Company. Compute its accounts receivable turnover for 2010 and 2011. Compare the two years results and give a possible explanation for any change (competitors average a turnover of 11).

                                                       2011                  2010                  2009

Net sales . . . . . . . . . . . . . . . . . . . $305,000              $236,000           $288,000

Accounts receivable, net (year-end) . . . . 22,900              20,700               17,400

Reference no: EM131533776

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