Sales are $ 480,000, the average receivable balance during the year was $ 40,000 and we...

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Sales are $ 480,000, the average receivable balance during the year was $ 40,000 and we...

Sales are $ 480,000, the average receivable balance during the year was $ 40,000 and we have a $ 20,000 allowance for sales returns. Calculate the accounts receivable turnover figure.

business accounting

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Answer 1

Answer #1

Answer: 11.50 or 12 times

Accounts Recievable Turn over ratio Denominator Account Recievable ratio Year Numerator Net sales Average Account Recievable

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Answer 2

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