Computing Receivable Ratios Broadway Inc. recognized credit sales of $220,000 for the year ended December...
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Accounting
Computing Receivable Ratios
Broadway Inc. recognized credit sales of $220,000 for the year ended December 31, 2020. The accounts receivable balances at December 31, 2019, and at December 31, 2020, were $22,656 and $22,000, respectively. Compute Broadways receivable turnover ratio and its average days to collect receivables for 2020.
Note: Enter the answer rounded to one digit after the decimal; for example, enter 1.4 for 1.44 or 1.5 for 1.45.
Accounts receivable turnover
Average days to collect receivables
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