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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

+ 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

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
Transcribed Image Text:+ 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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