Hii expert please provide correct answer Company XYZ has the following financial information:..Net accounts receivable, December 31, 2023: $625,800Net accounts receivable, December 31, 2024: $682,400Net credit sales for 2024: $5,890,500Calculate the receivables turnover ratio for 2024.A. 8.25 timesB. 9.02 timesC. 9.52 timesD. 8.98 times

Step 1: Define Receivables Turnover RatioThe Receivables Turnover Ratio measures how efficiently a…

Answered: Company XYZ has the following financial…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 12MC: South Rims has an accounts receivable balance at the end of 2018 of $357,470. The net credit sales...

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The following information relates to ReDo Corporation: $28,184,000 $316,199,000 $64,115,000 What ReDo's receivables collection period (DSO)? In your computations, assume there are 360 days in a year. 42.50 days O 72.99 days 32.09days Accounts receivable Total credit sales Accounts payable O 11.22days
The following data are taken from the financial statements of Colby Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 Accounts Receivable turnover Average collection period (b) B I U T₂ T² Ix 2022 $550,000 4,300,000 2022 7.9 times lil 2021 What conclusions about the management of accounts receivable can be drawn from the accounts receivable turnover and the average collections period. € $540,000 4,000,000 2021 46.2 days 48.7 days 7.5 times W 144 144 들 3 99 = á T ¶₁
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How much is the accounts receivable turnover ratio on these accounting question?
The following data are taken from the financial statements of Colby Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 Accounts Receivable turnover Average collection period (b) 2022 $550,000 2022 2021 4,300,000 4,000,000 7.9 times $540,000 2021 7.5 times 46.2 days 48.7 days What conclusions about the management of accounts receivable can be drawn from the accounts receivable turnover and the average collections period.
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