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Determine the average accounts receivable collection period

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Reference no: EM131723764

Question - The following financial information is for Alpha Corporation are for the fiscal years ending 2017 & 2016 (all balances are normal):

Item/Account 2017 2016
Cash $26,000 $16,000
Accounts Receivable 40,000 50,000
Inventory 30,000 22,000
Current Liabilities 76,000 42,000
Net Sales (all credit) 390,000 360,000
Cost of Goods Sold 260,000 250,000

Use this information to determine for FY 2017: (Round & enter your answers to one decimal place and enter the value.) show work!

1. the Accounts Receivable turnover ratio

2. Average Accounts Receivable collection period

3. Gross Profit Margin

Reference no: EM131723764

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