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Simon’s company has net sales of $720,000 and average accounts receivable of $30,000. What is its accounts receivable turnover? a. 22.45 b. 28.50 c. 24 d. 14

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 43E: Montalcino Company had net sales of 54,000,000. Montalcino had the following balances: Required:...

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Simon’s company has net sales of $720,000 and average accounts receivable of $30,000. What is its accounts receivable turnover? a. 22.45 b. 28.50 c. 24 d. 14

Definition Definition Money that the business will be receiving from its clients who have utilized the credit provided to buy its goods and services. The credit period typically lasts for a short term, lasting from a few days, a few months, to a year.

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