Alpha Company December 31 Accounts 2016 2015 Accounts Receivable $40,500
(all balances are normal):Alpha CompanyDecember
31
Accounts
2016
2015
Accounts Receivable
$40,500
$35,500
Allowance for Doubtful Accounts
2,500
1,500
Merchandise Inventory
57,000
50,000
Office Supplies
25,000
20,000
Credit Sales
960,000
740,000
Sales Discounts
10,000
9,000
Interest Income
25,000
20,000
Cost of Goods Sold
460,000
385,000
1. What is the FY 2016 accounts receivable turnover ratio? Enter the answer as a number rounded to one decimal place followed by a space and the word times. (Example 1.123 would be entered 1.1 times)
2. What is the FY 2016 days outstanding for accounts receivable ratio? Enter the answer as a number rounded to one decimal place followed by a space and the word days. (Example 1.123 would be entered 1.1 days)
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