Compute the Days in Accounts Receivable at the End Quarter
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Compute the Days in Accounts Receivable amounts for the end of each quarter.
Month Revenues Accounts Receivable at End of Quarter
January $350,000 $275,000
February 375000 290000
March 225000 200000
1st Quarter Total $950,000 $765,000
April $300,000 $270,000
May 320000 310000
June 400000 320000
2nd Quarter Total $1,020,000 $900,000
July $350,000 $335,000
August 275000 250000
September 200000 150000
3rd Quarter Total $825,000 $735,000
October $310,000 $300,000
November 425000 285000
December 290000 240000
4th Quarter Total $1,025,000 $825,000.
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Solution Summary
The computation is a bit different when you have quarters versus annual amounts. The tutorial shows you how to adjust for this.
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AR turnover is sales/AR. Thus presumes a full year of sales. So, to do it quarterly, ...
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