Answered: Powers Company reported net sales of…

Powers Company reported net sales of $1,310,000, average Accounts Receivable, net of $67,500, and net income of $55,700. The accounts receivable turnover ratio is:

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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Question

Powers Company reported net sales of $1,310,000, average Accounts Receivable, net of $67,500, and net income of $55,700.
The accounts receivable turnover ratio is:
Multiple Choice
0.52 times.
18.4 times.
36.8 times.
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