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Category > Accounting Posted 01 Aug 2017 My Price 6.00

Whalen Company

Exercise 16-31 Average Accounts Receivable, Accounts Receivable Turnover Ratio, Accounts Receivable Turnover in Days

Whalen Company had net sales of $6,500,300. Whalen had the following balances:

 

 

 

January 1

December 31

Accounts receivable

$1,100,400

$965,800

Inventories

450,000

525,000

Required:

Note: Round answers to two decimal places.

1.       Calculate the average accounts receivable.

2.       Calculate the accounts receivable turnover ratio.

3.       Calculate the accounts receivable turnover in days.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 01 Aug 2017 08:08 PM My Price 6.00

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