The following data are taken from the comparative balance sheets of Grayling Company.Compute and interpret its accounts receivable turnover for Year 2.Competitors average a turnover of 7.5.How is the company doing in relation to its competitors?
$\begin{array}{lrr}
& \text { Year 2 } & \text { Year 1 } \
\text { Accounts receivable, net } & 180,230 & 220,450 \
\text { Net sales } & 1,500,750 & 1,495,600
\end{array}$

Question

The following data are taken from the comparative balance sheets of Grayling Company.Compute and interpret its accounts receivable turnover for Year 2.Competitors average a turnover of 7.5.How is the company doing in relation to its competitors?
 $\begin{array}{lrr} 
& \text { Year 2 } & \text { Year 1 } \
\text { Accounts receivable, net } & 180,230 & 220,450 \
\text { Net sales } & 1,500,750 & 1,495,600
\end{array}$

Quizplus · Accepted Answer

The Answer of The following data are taken from the comparative balance sheets of Grayling Company.Compute and interpret its accounts receivable turnover for Year 2.Competitors average a turnover of 7.5.How is the company doing in relation to its competitors?
 $\begin{array}{lrr} 
& \text { Year 2 } & \text { Year 1 } \
\text { Accounts receivable, net } & 180,230 & 220,450 \
\text { Net sales } & 1,500,750 & 1,495,600
\end{array}$

The Following Data Are Taken from the Comparative Balance Sheets