At the end of the third year, the Treadwell Tire Company had accounts receivable of $64,600,...
At the end of the third year, the Treadwell Tire Company had accounts receivable of $64,600, and at the end of the fourth year, the company had accounts receivable of $73,600. If the company's net sales revenue during the fourth year were $896,000, the days to collect during year four was (Do not round intermediate calculation, round your final answer to 2 decimal places. Use 365 days in a year):
Homework Answers
ANSWER :-
Receivable turnover ratio :- Net Sales/Average net accounts
Receivable
:- 896,000/ 69,100
:- 12.97
Average net accounts receivable = (64600 + 73600)/2
= 69,100
Days to collect :- 365/ receivable turnover ratio
:- 365 / 12.97
:- 28.14 or 28 Days
so the answer is 28 days ....
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At the end of the third year, the Treadwell Tire Company had
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