The accounts receivable turnover ratio of a company is 2; if its annual credit sales is...

The accounts receivable turnover ratio of a company is 2; if its annual credit sales is $ 951810, what is the average value of outstanding credit (or value of accounts receivable)? If the company operates 350 a year, what is the average number of days it takes to get a credit sale paid?

Average outstanding credit = $ . (Round to TWO places of decimal)

Average number of days to get payment on a credit sale = (Round to the nearest integer)

Expert Solution

Average Outstanding Credit = $475905

Average number of days to get payment on a credit sale = 175 days

keosha answered 2 years ago

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