+ Based on the following data for the current year, what is the accounts receivable turnover? Net sales on account during year Cost of merchandise sold during year $500,000 300,000 Accounts receivable, beginning of year 45,000 35,000 Inventory, beginning of year 90,000 110,000 Accounts receivable, end of year Inventory, end of year a. 12.5 b. 11.1 c. 10.0 d. 14.3
+ Based on the following data for the current year, what is the accounts receivable turnover? Net sales on account during year Cost of merchandise sold during year $500,000 300,000 Accounts receivable, beginning of year 45,000 35,000 Inventory, beginning of year 90,000 110,000 Accounts receivable, end of year Inventory, end of year a. 12.5 b. 11.1 c. 10.0 d. 14.3
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Based on the following data for the current year, what is the accounts receivable turnover?
Net sales on account during year
Cost of merchandise sold during year
$500,000
300,000
Accounts receivable, beginning of year
45,000
35,000
Inventory, beginning of year
90,000
110,000
Accounts receivable, end of year
Inventory, end of year
a. 12.5
b. 11.1
c. 10.0
d. 14.3
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