O Level Accounting (7707)•7707/12/O/N/23
Explanation
Calculating trade receivables turnover in days
Steps:
- Identify credit sales and average trade receivables from the data.
- Compute turnover ratio: credit sales ÷ average trade receivables.
- Calculate days: 365 ÷ turnover ratio.
- Round to nearest whole number for the answer.
Not enough information: No data on Lynne's credit sales or trade receivables provided to compute the turnover.
Final answer: Not enough information.
Topic: Calculation and understanding of accounting ratios
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