(Answered) Question - for the year 2 and year 1 montague inc reported

Accounting

Question - For the Year 2 and Year 1, Montague Inc. reported the following:

	Year 2	Year 1
Sales	$3,621,530	$3,484,290
Accounts receivable	445,300	438,000

Assume that the accounts receivable were $372,300 at the beginning of Year 1.

Lassiter Company reported the following:

	Year 2	Year 1
Sales	$1,938,150	$1,962,240
Accounts receivable	211,700	219,000

Assume that accounts receivable were $248,200 at the beginning of Year 1.

a. Compute the average accounts receivable turnover ratio for Montague Inc. and Lassiter Company for Year 2 and Year 1. Round to one decimal place.

b. Does Lassiter Company or Montague Inc. have the higher average accounts receivable turnover ratio?

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