(Answered) Average accounts receivable accounts receivable turnover

Accounting

Average Accounts Receivable, Accounts Receivable Turnover Ratio, Accounts Receivable Turnover in Days

Calista Company had net sales of $432,000. Calista had the following balances:

	January 1	December 31
Accounts receivable	$ 82,500	$ 97,500
Inventories	113,000	103,000

Required:

Assume 365 days per year.

1. Calculate the average accounts receivable.

2. Calculate the accounts receivable turnover ratio. Round to one decimal place.

3. Calculate the accounts receivable turnover in days. Round to one decimal place.

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