The following information is available for Sheffield Corp.: 2022 2021 Accounts receivable $ 361000 $ 350000 Inventory 280000...
The following information is available for Sheffield
Corp.:
|
2022 |
2021 |
|
|---|---|---|
|
Accounts receivable |
$ 361000 |
$ 350000 |
|
Inventory |
280000 |
351000 |
|
Net credit sales |
2524050 |
2624000 |
|
Cost of goods sold |
1819000 |
874000 |
|
Net income |
319000 |
192000 |
The accounts receivable turnover for 2022 is
7.2 times.
3.6 times.
7.1 times.
7.0 times.
Homework Answers
accounts receivable turnover for 2022=Net credit sales/AR
=2524050/361000
which is equal to
=7.0 times(Approx)
Add Answer to:
The following information is available for Sheffield
Corp.:
2022
2021
Accounts receivable
$ 361000
$ 350000
Inventory
280000...
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