Calculate the Average Accounts Receivable, the Accounts Receivable
June 7th, 2024
Calculate the Average Accounts Receivable, the Accounts Receivable Turnover Ratio, and the Accounts Receivable Turnover in DaysLast year, Nikkola Company had net sales of $2,299,500,000 and cost of goods sold of $1,755,000,000. Nikkola had the following balances:January 1December 31Accounts receivable$142,650,000$172,350,000Inventories 54,374,200 62,625,800Required:Note: Round answers to one decimal place. Assume 365 days per year.1. Calculate the average accounts receivable.$2. Calculate the accounts receivable turnover ratio. times3. Calculate the accounts receivable turnover in days. days