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Westfield Manufacturing had net credit sales of $960,000 during the year. The beginning accounts receivable balance was $140,000, and the ending accounts receivable balance was $180,000. What was the receivables turnover ratio? Options: (a) 5.3 (b) 6.0 (c) 4.8 (d) 7.2

Westfield Manufacturing had net credit sales of $960,000 during the year. The beginning accounts receivable balance was $140,000, and the ending accounts receivable balance was $180,000. What was the receivables turnover ratio? Options: (a) 5.3 (b) 6.0 (c) 4.8 (d) 7.2

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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Westfield Manufacturing had net credit sales of $960,000 during the year. The beginning accounts receivable balance was $140,000, and the ending accounts receivable balance was $180,000. What was the receivables turnover ratio? Options: (a) 5.3 (b) 6.0 (c) 4.8 (d) 7.2
Transcribed Image Text:Westfield Manufacturing had net credit sales of $960,000 during the year. The beginning accounts receivable balance was $140,000, and the ending accounts receivable balance was $180,000. What was the receivables turnover ratio? Options: (a) 5.3 (b) 6.0 (c) 4.8 (d) 7.2
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