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Problem - Accounts Receivable Analysis

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Problem - Accounts Receivable Analysis

The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45.

 

20Y3

20Y2

20Y1

Accounts receivable, end of year

$725,000

$650,000

$600,000

Sales on account

5,637,500

4,687,500

Required -

a. For 20Y2 and 20Y3, determine (1) the accounts receivable turnover. Round to the nearest dollar and one decimal place.

(2) the number of days' sales in receivables. Round to the nearest dollar and one decimal place.

b. What conclusions can be drawn from these data concerning accounts receivable and credit policies?

Reference no: EM132691636

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