A7X, Inc., has an average collection period of 34 days. Its average daily investment in receivables is $95,000. What is the receivables turnover?

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 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....
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A7X, Inc., has an average collection period of 34 days. Its average daily investment in receivables is $95,000. What is the receivables turnover?

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