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larisa86 [58]
3 years ago
9

Accounts Receivable AnalysisThe following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/1

0, n/45.20Y3 20Y2 20Y1Accounts receivable, end of year $725,000 $650,000 $600,000 Sales on account 5,637,500 4,687,500 a. For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year.20Y3 20Y21. Accounts receivable turnover _____ _____ 2. Number of days' sales in receivables _____ days _____ daysb. The collection of accounts receivable has_____ . This can be seen in both the_____ in accounts receivable turnover and the______ in the collection period.
Business
1 answer:
aliya0001 [1]3 years ago
8 0

Answer:

Accounts receivable turnover 2013  2,05 2012 1,875

Number of days' sales in receivables 178 daysin 2013  194 days in 2012

The collection of accounts receivable has  high turnover  . This can be seen in both the times per year  in accounts receivable turnover and the average number of days in the collection period.

Explanation:

Account receiv Sales  

2013 725000 5637500 7,775862069

2012 650000 4687500 7,211538462

2011         600000  

   

Turnover Ratio= net credit sales    

Avergae account receivable  

   

2012 = 4687500/(600000+650000)/2  

1,875  

2013 = 5637500/(650000+725000)/2  

2,05  

Receivable turnover in days = 365 / Receivable turnover ratio    

   

2012 194,6666667  

   

2013 178,0487805  

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