Harbor Industries had annual credit sales of $1,800,000. The company's accounts receivable balance was $250,000 at the beginning of the year and $350,000 at the end of the year. What is the accounts receivable turnover ratio for the year? a. 5.14 b. 6.00 c. 7.20 d. 8.50

Harbor Industries had annual credit sales of $1,800,000. The company's accounts receivable balance was $250,000 at the beginning of the year and $350,000 at the end of the year. What is the accounts receivable turnover ratio for the year? a. 5.14 b. 6.00 c. 7.20 d. 8.50

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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Harbor Industries had annual credit sales of $1,800,000. The company's
accounts receivable balance was $250,000 at the beginning of the year and
$350,000 at the end of the year. What is the accounts receivable turnover ratio
for the year?
a. 5.14
b. 6.00
c. 7.20
d. 8.50

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