In 2010, Drew Gooden Company has net credit sales of $1,685,000 for the year. It had a beginning accounts receivable (net) balance of $101,800 and an ending accounts receivable (net) balance of $107,700. Compute Drew Gooden Company's (a) accounts receivable turnover and (b) average collection period in days.
- accounts receivable turnover ratio?
- Average collection period for accounts receivable?