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Based on the following data for the current year, what is the accounts receivable turnover? Net sales on account during the year $400,000 Cost of merchandise sold during the year 300,000 Accounts receivable, the beginning of year 45,000 Accounts receivable, end of year 35,000 Inventory, the beginning of year 90,000 Inventory, end of year 110,000 a. 11.4 b. 10 c. 8.9 d. 4

Based on the following data for the current year, what is the accounts receivable turnover? Net sales on account during the year $400,000 Cost of merchandise sold during the year 300,000 Accounts receivable, the beginning of year 45,000 Accounts receivable, end of year 35,000 Inventory, the beginning of year 90,000 Inventory, end of year 110,000 a. 11.4 b. 10 c. 8.9 d. 4

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 the year $400,000 Cost of merchandise sold during the year 300,000 Accounts receivable, the beginning of year 45,000 Accounts receivable, end of year 35,000 Inventory, the beginning of year 90,000 Inventory, end of year 110,000 a. 11.4 b. 10 c. 8.9 d. 4
Transcribed Image Text:Based on the following data for the current year, what is the accounts receivable turnover? Net sales on account during the year $400,000 Cost of merchandise sold during the year 300,000 Accounts receivable, the beginning of year 45,000 Accounts receivable, end of year 35,000 Inventory, the beginning of year 90,000 Inventory, end of year 110,000 a. 11.4 b. 10 c. 8.9 d. 4
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