Provide answer The 2024 financial statements of Blue Wave Technologies showannual credit sales of $42.8 million. The company had accountsreceivable (net) of $5.2 million at the beginning of the year and $6.4million at the end of the year.Calculate Blue Wave Technologies' receivable turnover ratio.

Step 1: Calculation of Average Accounts ReceivablesStep 2: Calculation of Receivables Turnover Ratio

Answered: The 2024 financial statements of Blue…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10EB: Starlight Enterprises has net credit sales for 2019 in the amount of $2,600,325, beginning accounts...

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The 2024 financial statements of Blue Wave Technologies show annual credit sales of $42.8 million. The company had accounts receivable (net) of $5.2 million at the beginning of the year and $6.4 million at the end of the year. Calculate Blue Wave Technologies' receivable turnover ratio.