Brief Exercise 18-11
Brief Exercise 18-11 (Part Level Submission)
The following data are taken from the financial statements of Rainsberger Company.
| |
|
2015
|
|
2014
|
| Accounts receivable (net), end of year |
|
$550,000 |
|
$520,000 |
| Net sales on account |
|
3,960,000 |
|
3,100,000 |
| Terms for all sales are 1/10, n/60. |
|
|
|
|
|
|
|
 |
|
(a1)
|
 |
Your answer is incorrect. Try again. |
| |
|
Compute for each year the accounts receivable turnover. At the end of 2013, accounts receivable (net) was $480,000.
(Round answers to 1 decimal place, e.g. 1.6.)
| |
|
2015
|
|
2014
|
| Accounts receivable turnover |
|
[removed] times
|
|
[removed] times
|
| Click if you would like to Show Work for this question: |
|
The 7.9 and 7.5 are my incorrect answers I need the correct answers please
|
|
|
