Cornerstones of Managerial Accounting 4th Edition by Maryanne Mowen, Don Hansen, Dan Heitger

Exercise 44

Last year, Nikkola Company had net sales of $12,358,000 and cost of goods sold o: $7,847,500. Nikkola had the following balances:
Calculate the Average Accounts Receivable, the Accounts Receivable Turnover Ratio, and the Accounts Receivable Turnover in Days Refer to the information for Nikkola Company on the previous page.
Required:
Note: Round answers to one decimal place.
1. Calculate the average accounts receivable.
2. Calculate the accounts receivable turnover ratio.
3. Calculate the accounts receivable turnover in days.