The financial statements of Bolero Manufacturing Inc. report net credit sales of $900,000 and accounts receivable of $80,000 and $40,000 at the beginning of the year and end of the year, respectively. What is the receivables turnover ratio for Bolero? O 15.0 times 7.5 times 22.5 times O 11.25 times

The financial statements of Bolero Manufacturing Inc. report net credit sales of $900,000 and accounts receivable of $80,000 and $40,000 at the beginning of the year and end of the year, respectively. What is the receivables turnover ratio for Bolero? O 15.0 times 7.5 times 22.5 times O 11.25 times

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

The financial statements of Bolero Manufacturing Inc. report net credit sales of $900,000 and accounts
receivable of $80,000 and $40,000 at the beginning of the year and end of the year, respectively. What is the
receivables turnover ratio for Bolero?
O 15.0 times
O7.5 times
22.5 times
O 11.25 times

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