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v2.cengagenow.com/Im/takeAssig takeAssignmentMain.doinvoker= assignments&takeAssignmentSession; Locator= assignment-take&inprogress;= false HOMEWORK 15 Show Me How Calculator Print Item eBook Accounts Receivable Analysis The following data are taken from the financial statements of McKee Technology Inc. Terms of all sales are 2/10, n/55. 2016 2014 Accounts receivable, end of year Net sales on account a. For 2015 and 2016, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round answers to one decimal place. Assume a 365-day year. 2015 5142,000 $150,000 $156,600 751,170 803,000 2016 2015 1. Accounts receivable turnover 2. Number of days sales in receivables b. The collection of accounts receivable has period. days days . This can be seen in both the in accounts receivable turnover and the in the collection Check My Work Previous Next 3-02 PM O Type here to search

Explanation / Answer

2016 2015 Accounts receivable turnover ratio = Net credit sales / Average accounts recievable 5.5 4.9 Number of days sales in receiveble = Average Accounts Receiveble / Net credit sales *365 66.36 74.49

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