Based on the following data, what is the accounts receivable turnover? Sales on account during year $545,555 Cost of goods sold during year 200,188 Accounts receivable, beginning of year 48,147 Accounts receivable, end of year 54,388 Inventory, beginning of year 90,742 Inventory, end of year 119,266

Based on the following data, what is the accounts receivable turnover? Sales on account during year $545,555 Cost of goods sold during year 200,188 Accounts receivable, beginning of year 48,147 Accounts receivable, end of year 54,388 Inventory, beginning of year 90,742 Inventory, end of year 119,266

Name: Based on the following data, what is the accounts receivable turnover?
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Description: Based on the following data, what is the accounts receivable turnover?Sales on account during year$545,555Cost of goods sold during year200,188Accounts receivable, beginning of year48,147Accounts receivable, end of year54,388Inventory, beginning of y

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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Based on the following data, what is the accounts receivable turnover?

Sales on account during year	$545,555
Cost of goods sold during year	200,188
Accounts receivable, beginning of year	48,147
Accounts receivable, end of year	54,388
Inventory, beginning of year	90,742
Inventory, end of year	119,266

Definition Definition Money that the business will be receiving from its clients who have utilized the credit provided to buy its goods and services. The credit period typically lasts for a short term, lasting from a few days, a few months, to a year.

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