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Mathematics
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Skips repair shop has an average account receivable of $9,108. Sales for the year were $16,325. What is the shops account receivable turnover? Using this answer, compute the average collection period? (Assume a 365-day year)

May 20th, 2015

average account receivable=9108

account turnover=16325-9108=7217$

per day account receivable=9108/365=25

average collection period=7217/365=20 per day




May 20th, 2015
Average accounts receivable/
Annual sales รท 365 days
=9108/16325/365
average collection period=203.6 days


May 20th, 2015

sorry 1st ans was wrong this is the right ans...............

May 20th, 2015

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