The Following Data Exist for Sexton Company

question 27

Essay

The following data exist for Sexton Company:
Calculate the receivables turnover and the average days' sales uncollected for 2014.(Round to 1 decimal point and even days,respectively.)

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Definitions:

Commission Fee

A service charge assessed by a broker or agent for facilitating a transaction, typically a percentage of the transaction amount.

Fiscal Year

A one-year period that companies and governments use for financial reporting and budgeting, which may not coincide with the calendar year.

Average Number

A value found by summing all numbers in a set and then dividing by the count of those numbers, representing a central or typical value in the set.

Maintenance Crew

A team responsible for keeping buildings, machinery, or equipment in working order through routine maintenance and repair.