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Evaluate collection of accounts receivable

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Reference no: EM132493568

The following data are taken from the financial statements of Mercado decorations:

                                                                  2009                 2008

Accounts receivables (net), end of year           $550,000            $520,000

Net sales on account                                     3,850,000                3,100,000

Question (a) Compute for each year (1) the receivable turnover and (2) the average collection period. At the end of 2007, accounts receivables (net) worth was $490,000

Question (b) what conclusions about the management of accounts receivables can be drawn from these data?

Hint: evaluate collection of accounts receivable

Reference no: EM132493568

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