Reference no: EM132140632

Question - The following information relates to Rem Corp's accounts receivable for 2015: Accounts receivable, 1/1/15 $ 500,000 Credit sales for 2015 2,000,000 Sales returns for 2015 60,000 Accounts written off during 2015 37,000 Collections from customers during 2015 1,500,000.

Required: For 2015, what is the accounts receivable turnover in times and number of days? You will need to first determine the ending 12/31/15 accounts receivable balance. If applicable, rounded the average inventory to the nearest whole dollar, round the inventory turnover in times using two decimal places and round the number of days to the nearest whole number.