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

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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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 $500,000

 

Cost of merchandise sold during year 300,000

 

Accounts receivable, beginning of year 45,000

 

Accounts receivable, end of year 35,000

 

Inventory, beginning of year 90,000

 

Inventory, end of year 110,000

 

 

a. 12.5

 

b. 11.1

 

c. 10.0

 

d. 14.3

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