Chen Electronics reports 2024 revenue of $15 billion. During 2024, its accounts receivable increased by $0.6 billion, accounts payable rose by $0.9 billion, inventories increased by $0.3 billion, and unearned decreased by $0.4 billion. Calculate its ratio of revenue to cash collected from customers in 2024. a. 1.07 b. 1.12 c. 0.98 d. 1.15 e. 1.03

Chen Electronics reports 2024 revenue of $15 billion. During 2024, its accounts receivable increased by $0.6 billion, accounts payable rose by $0.9 billion, inventories increased by $0.3 billion, and unearned decreased by $0.4 billion. Calculate its ratio of revenue to cash collected from customers in 2024. a. 1.07 b. 1.12 c. 0.98 d. 1.15 e. 1.03

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 12Q: Berry Farms has an accounts receivable balance at the end of 2018 of $425,650. The net credit sales...

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