Hi expert please give me answer general accounting question The following information is available:Item20212022Net Accounts Receivable $562,500 $625,000Net Credit Sales$4,850,000 $5,250,000Compute the receivables turnover ratio for 2022.A. 8.85 timesB. 8.40 timesC. 9.33 timesD. 8.60 times

Step 1: Definition of Receivables Turnover RatioThe Receivables Turnover Ratio measures how…

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Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 14MC: Ancient Grains Unlimited has an accounts receivable turnover ratio of 3.34 times. The net credit...

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Particulars Procter & Gamble Colgate-Palmolive Net Sales 2018 66832 15544 Accounts Receivables 2018 4686 1400 Accounts Receivables 2017 4594 1480 Average Receivables (4686+4594)/2 = 4640 (1400+1480)/2 = 1440 Accounts Receivables Turnover Ratio = Net Credit Sales ÷ Average Receivables 66832/4640 = 14.40 15544/1440 = 10.79 DSO = Accounts Receivables ÷ Net Credit Sales × 365 14.40/66832 = 25.34 10.79/15544 = 33.81 A) Identify and discuss a potential explanation for the difference between these competitors’ Accounts receivable ratios
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Its. Problem 5 ACCOUNTS RECEIVABLE. The Rivers Company reports the following data relative to accounts receivable: teme 20X2 20X1 Average accounts receivable $ 400,000 S 416,000 Net credit sales $2,600,000 $3.100,000 The terms of sale are net 30 days. Requirement: Compute the accounts receivable turnover and the collection period. Assume a 365-day year. is, an
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US Kimmel, Financial Accounting, 8e Helo I System Announcements CALCULATOR PRINTER VERSION 4BACK NEXT Multiple Choice Question 187 Pharoah Company had net credit sales during the year of $1407600 and cost of goods sold of $424000. The balance in accounts receivable at the beginning of the year was $115200 and at the end of the year was $190800. What was the accounts receivable turnover? О 6.00 7.90 О 1.20 O 9.20 Click if you would like to Show Work for this question: Open Show Work Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER
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QUESTION 16 Con-yay & JZ Incorporated has an average collection period (accounts receivable/daily credit sales) of 74 days. What is the accounts receivable turnover ratio (credit sales/accounts receivable) for Smart and Smiley? You may use a 360-day year. a. 4.86 b. 2.47 c. 2.66 d. 1.68
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The following information is available: Item 2021 2022 Net Accounts Receivable $562,500 $625,000 Net Credit Sales $4,850,000 $5,250,000 Compute the receivables turnover ratio for 2022. A. 8.85 times B. 8.40 times C. 9.33 times D. 8.60 times