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Determine the receivables turnover ratio and average days

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Reference no: EM132721694

Problem - A recent annual report for NPS contained the following data:

 

(dollars in thousands )

 

Current Year

Previous Year

Accounts receivable

$3,627,000

$4,647,000

Less: Allowance for doubtful accounts

191,000

152,000

Net accounts receivable

$3,436,000

$4,495,000

Net sales (assume all on credit)

$36,397,000

 

Required - Determine the receivables turnover ratio and average days sales in receivables for the current year.

Reference no: EM132721694

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