Rise Above This, Inc., has an average collection period of 58 days. Its average

Annual credit sales calculation: Annual credit sales = (Average receivable / Average collection period)

ID: 2643334 • Letter: R

Question

Rise Above This, Inc., has an average collection period of 58 days. Its average daily investment in receivables is $91,100. Assume 365 days per year.

What is the receivables turnover? (Round your answer to 4 decimal places. (e.g., 32.1616))

What are annual credit sales? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

Rise Above This, Inc., has an average collection period of 58 days. Its average daily investment in receivables is $91,100. Assume 365 days per year.

Annual credit sales calculation:

Annual credit sales = (Average receivable / Average collection period)

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