Apex Electronics began the year with an accounts receivable balance of $150,000 and ended the year with an accounts receivable balance of $180,000. The company had credit sales of $750,000. What is the receivables turnover ratio for the year?

Apex Electronics began the year with an accounts receivable balance of $150,000 and ended the year with an accounts receivable balance of $180,000. The company had credit sales of $750,000. What is the receivables turnover ratio for the year?

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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Question

General Accounting Question

Apex Electronics began the year with an accounts receivable
balance of $150,000 and ended the year with an accounts
receivable balance of $180,000. The company had credit sales of
$750,000.
What is the receivables turnover ratio for the year?

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