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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

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

Principles of Accounting Volume 1
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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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
Transcribed Image Text: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
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