Mountain View Electronics started the year with accounts receivable of $85,000 and ended with $95,000. During the year, the company had credit sales of $540,000 with a gross profit of $216,000. What is Mountain View Electronics' receivables turnover ratio for the year?

Mountain View Electronics started the year with accounts receivable of $85,000 and ended with $95,000. During the year, the company had credit sales of $540,000 with a gross profit of $216,000. What is Mountain View Electronics' receivables turnover ratio for the year?

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 27BEB: Last year, Tobys Hats had net sales of 45,000,000 and cost of goods sold of 29,000,000. Tobys had...

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Need help with this question solution general accounting

Mountain View Electronics started the year with accounts receivable
of $85,000 and ended with $95,000. During the year, the company
had credit sales of $540,000 with a gross profit of $216,000. What is
Mountain View Electronics' receivables turnover ratio for the year?

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