Heal of Approval Spa Reports the Following Information for the Years

question 117

Essay

Heal of Approval Spa reports the following information for the years ended December 31,20X2 and 20X3:
$\begin{array} { l l l } & 20 \times 3 &20 \times 2 \\\text { Sales }&\$640000&\$720000\\\text { Accounts Receivable } & 40,000 & 60,000\end{array}$
Sales consisted of 80% credit sales and 20% cash sales during 20X2 and 20X3.
From the information given previously for Heal of Approval Spa,determine the
a.accounts receivable turnover for 20X3.
b.days to collect accounts receivable for 20X3.

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