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A company had net sales of $600,000, total sales of $750,000, and average accounts receivable of $75,000. Its accounts receivable turnover equals: 1. 0.13 2. 0.80 3. 7.75 4. 8.00

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 44E: Whalen Company had net sales of 125,500,250,000. Whalen had the following balances: Required: Note:...

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A company had net sales of $600,000, total sales of $750,000,
and average accounts receivable of $75,000. Its accounts
receivable turnover equals:
1. 0.13
2. 0.80
3. 7.75
4. 8.00

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What is its accounts receivable turnover for the period?
What is the account receivable turnover rate?