Solution-What is the FY accounts receivable turnover ratio

What is the FY accounts receivable turnover ratio

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Reference no: EM131746476

Question - Alpha Company has the following account balances information for fiscal year 2015 & 2016 (all balances are normal):

Alpha Company December 31
Accounts	2016	2015
Accounts Receivable	$40,500	$35,500
Allowance for Doubtful Accounts	2,500	1,500
Merchandise Inventory	57,000	50,000
Office Supplies	25,000	20,000
Credit Sales	960,000	740,000
Sales Discounts	10,000	9,000
Interest Income	25,000	20,000
Cost of Goods Sold	460,000	385,000

1. What is the FY 2016 accounts receivable turnover ratio? Enter the answer as a number rounded to one decimal place followed by a space and the word times.

2. What is the FY 2016 days outstanding for accounts receivable ratio? Enter the answer as a number rounded to one decimal place followed by a space and the word days.

Reference no: EM131746476

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What is the FY accounts receivable turnover ratio

Reference no: EM131746476

Reference no: EM131746476

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