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2 years ago

The following data are taken from the financial statements of Bar Harbor Company:

Business

1 answer:

nikdorinn [45]2 years ago

7 0

Answer:

a. Accounts receivable turnover = Net sales on account/Average accounts receivable

Accounts receivable turnover = $5,800,000/$530,000

Accounts receivable turnover = 10.94

Accounts receivable turnover = $5,200,000 / $550,000

Accounts receivable turnover = 9.45

b. Average collection period = 365 days/Accounts receivable turnover

Average collection period = 365/10.94

Average collection period = 33 days

Average collection period = 365/9.45

Average collection period = 39 days

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