Exam (elaborations)
Accounts receivable
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AnswerA. 20Y8
Accounts Receivable Turnover= 11.8
20Y9
Accounts Receivable Turnover= 13.4
B. 20Y8
DSO = 30.9 days
20Y9
DSO = 27.2 days
C. Chargers are FAVORABLE
Explanation
A. 20Y8 :
Accounts Receivable Turnover = net sales/ average account receivable
=$6,726,000/((540,000+600,000)/2)
= $6,726,000/570,000
Accounts Receivable Turnover= 11.8
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