At the end of the first year, ClearStream Supplies had net accounts receivable of $54,000, and at the end of the second year, the company had net accounts receivable of $60,000. If the company's net sales revenue during the second year was $720,000, what was the receivables turnover ratio for the second year? a) 12.86 b) 13.85 c) 11.48 d) 6.38

At the end of the first year, ClearStream Supplies had net accounts receivable of $54,000, and at the end of the second year, the company had net accounts receivable of $60,000. If the company's net sales revenue during the second year was $720,000, what was the receivables turnover ratio for the second year? a) 12.86 b) 13.85 c) 11.48 d) 6.38

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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