A professional service firm at the end of the current fiscal year had a Total Revenue of $8,500,000 and accounts receivable of $2,000,000. If its accounts receivable at the end of the previous year was $2,200,000, what is this business' Receivable Turnover (RT) and Days' Collections (DC)? Write out your math

A professional service firm at the end of the current fiscal year had a Total Revenue of $8,500,000 and accounts receivable of $2,000,000. If its accounts receivable at the end of the previous year was $2,200,000, what is this business' Receivable Turnover (RT) and Days' Collections (DC)? Write out your math

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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