At the end of the first year, Swift Electronics had net accounts receivable of $80,500. At the end of the second year, the company's net accounts receivable increased to $89,700. The company's net sales revenue during the second year was $965,400. What is the receivable turnover ratio for the second year? a) 11.34 b) 10.95 c) 12.03 d) 9.87

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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At the end of the first year, Swift Electronics
had net accounts receivable of $80,500. At the
end of the second year, the company's net
accounts receivable increased to $89,700. The
company's net sales revenue during the
second year was $965,400.
What is the receivable turnover ratio for the
second year?
a) 11.34
b) 10.95
c) 12.03
d) 9.87
Transcribed Image Text:At the end of the first year, Swift Electronics had net accounts receivable of $80,500. At the end of the second year, the company's net accounts receivable increased to $89,700. The company's net sales revenue during the second year was $965,400. What is the receivable turnover ratio for the second year? a) 11.34 b) 10.95 c) 12.03 d) 9.87
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