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For its most recent year a company had sales all on credit

Question - For its most recent year a company had Sales (all on credit) of $830, 000 and Cost of Goods Sold of $525, 000. At the end of the year its Accounts Receivable were $86,000 and its Inventory was $110,000. Accounts Payable was $5,000 and Net Income was $42,000.

1. Calculate the Accounts Receivable Turn Days.

2. Calculate the Inventory Turn days.

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Accounting Basics: For its most recent year a company had sales all on credit

Reference No:- TGS02898850

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