Business, 11.12.2019 07:31 statonglenda

Classic company designs, markets, and distributes a variety of apparel, home decor, accessory, and fragrance products. the company's products include such brands as classic company, polo by classic company, and chaps. for two recent years, the company reported the following (in millions):
year 2 year 1
sales $3,027,675 $3,022,930
accounts receivable (end of year) 375,950 390,550
the accounts recelvable at the beginning of year 1 was $346,750
required:
a. compute the accounts recelvable turnover for year 1 and year 2. round to one decimal place.
b. compute the number of days' sales in recelvables for year 1 and year 2. round to one decimal place. use 365 days per year in your calculations.

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