The following information is available: Net accounts receivable, December 31, 2023: $625,000 Net accounts receivable, December 31, 2024: $675,000 ⚫ Net credit sales for 2024: $5,850,000 The receivables turnover ratio for 2024 is closest to: A. 8.25 times B. 9.00 times C. 9.75 times D. 10.50 times
The following information is available: Net accounts receivable, December 31, 2023: $625,000 Net accounts receivable, December 31, 2024: $675,000 ⚫ Net credit sales for 2024: $5,850,000 The receivables turnover ratio for 2024 is closest to: A. 8.25 times B. 9.00 times C. 9.75 times D. 10.50 times
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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