Nathalie Drug Store had net credit sales of P6,000,000 and cost of goods sold of P2,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were P350,000 and P250,000, respectively. The accounts receivable turnover ratio was *
Nathalie Drug Store had net credit sales of P6,000,000 and cost of goods sold of P2,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were P350,000 and P250,000, respectively. The accounts receivable turnover ratio was *
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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Nathalie Drug Store had net credit sales of P6,000,000 and cost of goods sold of P2,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were P350,000 and P250,000, respectively. The accounts receivable turnover ratio was *
a. 10.0 times.
b. 17.1 times.
c. 13.3 times.
d. 20.0 times.
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