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Financial statement data for years ending December 31 for Robid Company follows: 2016 2015 Sales $7,906,000 $6,726,000 Account receivable:

Financial statement data for years ending December 31 for Robid Company follows:

  2016 2015

Sales $7,906,000  $6,726,000

Account receivable:     

Beginning of year 600,000  540,000   


End of year 580,000  600,000


a. Determine the accounts receivable turnover for 2016 and 2015. Round your answers to one decimal place.

 Accounts Receivable Turnover


2016


2015



b. Determine the number of days' sales in receivables for 2016 and 2015. Use 365 days in a year in your computations. Round interim calculations and your final answers to one decimal place


Number of Days' Sales in Receivables


2016  --days


2015 --days

Top Answer

  Accounts Receivable Turnover 13.40... View the full answer

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