Question 9.6: Accounts Receivable Turnover and Days’ Sales in Receivables ...
Accounts Receivable Turnover and Days’ Sales in Receivables
Financial statement data for years ending December 31 for Osterman Company follow:
20Y9 | 20Y8 | |
Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | $4,284,000 | $3,040,000 |
Accounts receivable: | ||
Beginning of year . . . . . . . . . . . . . . . . . . . . . . . . . . . | 550,000 | 400,000 |
End of year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . | 640,000 | 550,000 |
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