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A company has provided the following data: Item Accounts This Year Last Year Receivable Sales on Account $95,000 $108,000 $920,000 Cost of Goods Sold $645,000 Compute the accounts receivable turnover ratio for this year.

A company has provided the following data: Item Accounts This Year Last Year Receivable Sales on Account $95,000 $108,000 $920,000 Cost of Goods Sold $645,000 Compute the accounts receivable turnover ratio for this year.

Managerial Accounting: The Cornerstone of Business Decision-Making
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 27BEB: Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had...
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Compute the account receivable turnover

A company has provided the following data: Item Accounts This Year Last Year Receivable Sales on Account $95,000 $108,000 $920,000 Cost of Goods Sold $645,000 Compute the accounts receivable turnover ratio for this year.
Transcribed Image Text:A company has provided the following data: Item Accounts This Year Last Year Receivable Sales on Account $95,000 $108,000 $920,000 Cost of Goods Sold $645,000 Compute the accounts receivable turnover ratio for this year.
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