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Dorchester Company had the following balances at the end of 2018 and 2019 respectively: Net Credit Sales - $885,000 for 2018 and $1,092,000 for 2019. Accounts Receivable $80,000 for 2018 and $115,000 for 2019. Allowance for Doubtful Accounts $6,000 for 2018 and 6,500 for 2019. Calculate the accounts receivable turnover ratio.

Dorchester Company had the following balances at the end of 2018 and 2019 respectively: Net Credit Sales - $885,000 for 2018 and $1,092,000 for 2019. Accounts Receivable $80,000 for 2018 and $115,000 for 2019. Allowance for Doubtful Accounts $6,000 for 2018 and 6,500 for 2019. Calculate the accounts receivable turnover ratio.

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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Dorchester Company had the following balances at the end of 2018 and 2019 respectively: Net Credit Sales - $885,000 for 2018 and $1,092,000 for 2019. Accounts Receivable $80,000 for 2018 and $115,000 for 2019. Allowance for Doubtful Accounts $6,000 for 2018 and 6,500 for 2019. Calculate the accounts receivable turnover ratio.
Transcribed Image Text:Dorchester Company had the following balances at the end of 2018 and 2019 respectively: Net Credit Sales - $885,000 for 2018 and $1,092,000 for 2019. Accounts Receivable $80,000 for 2018 and $115,000 for 2019. Allowance for Doubtful Accounts $6,000 for 2018 and 6,500 for 2019. Calculate the accounts receivable turnover ratio.
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