Homework Help is Here – Start Your Trial Now!
Business
Accounting
Xenox Company had net credit sales during the year of $1,300,000 and a cost of goods sold of $800,000. The balance in accounts receivable at the beginning of the year was $185,000, and at the end of the year, it was $140,000. What was the accounts receivable turnover? A. 4.9 B. 7 C. 8 D. 9.3

Xenox Company had net credit sales during the year of $1,300,000 and a cost of goods sold of $800,000. The balance in accounts receivable at the beginning of the year was $185,000, and at the end of the year, it was $140,000. What was the accounts receivable turnover? A. 4.9 B. 7 C. 8 D. 9.3

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....
See similar textbooks
icon
Related questions
Question

What was the accounting receivable turnover?

Xenox Company had net credit sales during the year of $1,300,000 and a cost of goods sold of $800,000. The balance in accounts receivable at the beginning of the year was $185,000, and at the end of the year, it was $140,000. What was the accounts receivable turnover? A. 4.9 B. 7 C. 8 D. 9.3
Transcribed Image Text:Xenox Company had net credit sales during the year of $1,300,000 and a cost of goods sold of $800,000. The balance in accounts receivable at the beginning of the year was $185,000, and at the end of the year, it was $140,000. What was the accounts receivable turnover? A. 4.9 B. 7 C. 8 D. 9.3
Expert Solution
steps

Step by step

Solved in 2 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS