(Answered) Question - for two recent years rosco co reported the

Accounting

Question - For two recent years, Rosco Co. reported the following:

	Year 2	Year 1
Sales	$7,478,120	$7,135,020
Accounts receivable	726,350	711,750

Assume that the accounts receivable were $609,550 at the beginning of Year 1.

a. Compute the accounts receivable turnover for Year 2 and Year 1. Round to one decimal place.

b. Compute the days' sales in receivables at the end of Year 2 and Year 1. Use 365 days per year in your calculations.

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