The following information is available for Carlton Products Ltd.: Item Amount Net accounts receivable, Dec 31, 2022 $412,800 Net accounts receivable, Dec 31, 2023 $460,400 Net credit sales for 2023 $3,980,600 What is the receivables turnover ratio for 2023

The following information is available for Carlton Products Ltd.: Item Amount Net accounts receivable, Dec 31, 2022 $412,800 Net accounts receivable, Dec 31, 2023 $460,400 Net credit sales for 2023 $3,980,600 What is the receivables turnover ratio for 2023

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 10EA: Millennial Manufacturing has net credit sales for 2018 in the amount of $1,433,630, beginning...

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Question

I need assistance with this financial accounting problem using appropriate calculation techniques.

The following information is available for Carlton Products Ltd.:
Item
Amount
Net accounts receivable, Dec 31, 2022 $412,800
Net accounts receivable, Dec 31, 2023 $460,400
Net credit sales for 2023
$3,980,600
What is the receivables turnover ratio for 2023

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