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Jennifer's business reported annual net credit sales of $850,000 and had beginning accounts receivable of $45,000 and ending accounts receivable of $55,000. What is the accounts receivable turnover ratio for Jennifer's business? a. 17.0 b. 15.5 c. 18.9 d. 21.3

Jennifer's business reported annual net credit sales of $850,000 and had beginning accounts receivable of $45,000 and ending accounts receivable of $55,000. What is the accounts receivable turnover ratio for Jennifer's business? a. 17.0 b. 15.5 c. 18.9 d. 21.3

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 9E
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Jennifer's business reported annual net credit sales of $850,000 and had beginning accounts receivable of $45,000 and ending accounts receivable of $55,000. What is the accounts receivable turnover ratio for Jennifer's business? a. 17.0 b. 15.5 c. 18.9 d. 21.3
Transcribed Image Text:Jennifer's business reported annual net credit sales of $850,000 and had beginning accounts receivable of $45,000 and ending accounts receivable of $55,000. What is the accounts receivable turnover ratio for Jennifer's business? a. 17.0 b. 15.5 c. 18.9 d. 21.3
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