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QS 13-7 Computing accounts receivable turnover and days’ sales uncollected LO P3 Mifflin Co. reported the...

QS 13-7 Computing accounts receivable turnover and days’ sales uncollected LO P3

Mifflin Co. reported the following for the current year:

Net sales $ 87,380
Cost of goods sold $ 57,000
Beginning balance in accounts receivable $ 17,800
Ending balance in accounts receivable $ 7,900


Compute (a) accounts receivable turnover and (b) days’ sales uncollected. Hint: Recall that accounts receivable turnover uses average accounts receivable, and days’ sales uncollected uses the ending balance in accounts receivable.

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