Using the following data for the current year, determine the accounts receivable turnover. Net sales on account during the year $ 457,065 Cost of merchandise sold during the year 461,280 Accounts receivable, beginning of year 75,290 Accounts receivable, end of year 26,280 Inventory, beginning of year 185,000 Inventory, end of year 169,570 a.7 b.8 c.10 d.9
Using the following data for the current year, determine the accounts receivable turnover. Net sales on account during the year $ 457,065 Cost of merchandise sold during the year 461,280 Accounts receivable, beginning of year 75,290 Accounts receivable, end of year 26,280 Inventory, beginning of year 185,000 Inventory, end of year 169,570 a.7 b.8 c.10 d.9
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Using the following data for the current year, determine the accounts receivable turnover.
| Net sales on account during the year | $ 457,065 |
| Cost of merchandise sold during the year | 461,280 |
| Accounts receivable, beginning of year | 75,290 |
| Accounts receivable, end of year | 26,280 |
| Inventory, beginning of year | 185,000 |
| Inventory, end of year | 169,570 |
a.7
b.8
c.10
d.9
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