The company's net sales are $45,000, and the beginning balance and the ending balance of net accounts receivable are $3,200 and $5,400 respectively. What is the receivable turnover ratio? A. 0.10 B. 10.47 C. 0.19 D. 5.23

The company's net sales are $45,000, and the beginning balance and the ending balance of net accounts receivable are $3,200 and $5,400 respectively. What is the receivable turnover ratio? A. 0.10 B. 10.47 C. 0.19 D. 5.23

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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Question

What is the receivables turnover ratio?

The company's net sales are $45,000, and the
beginning balance and the ending balance of net
accounts receivable are $3,200 and $5,400
respectively. What is the receivable turnover ratio?
A. 0.10
B. 10.47
C. 0.19
D. 5.23

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The following data are taken from the financial statements of Colby Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 Accounts Receivable turnover Average collection period (b) B I U T₂ T² Ix 2022 $550,000 4,300,000 2022 7.9 times lil 2021 What conclusions about the management of accounts receivable can be drawn from the accounts receivable turnover and the average collections period. € $540,000 4,000,000 2021 46.2 days 48.7 days 7.5 times W 144 144 들 3 99 = á T ¶₁