Problem-xyzs receivables turnover is 4x the accounts, Ask an Expert

Accounting

Problem-

XYZ's receivables turnover is 4x. The accounts receivable at year-end are $600,000. The average collection period is 90 days. What was the sales figure for the year assuming all sales are on credit?

a). $60,000

b). $6,000,000

c). $2,400,000

d). None of these

Additional Requirement-

The problem relates to Basic Accounting and it discusses about calculation of total sales assuming all sales are on credit.

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