Based on the following data, what is the accounts receivable turnover? Sales on account during year...

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Based on the following data, what is the accounts receivable turnover? Sales on account during year...

Based on the following data, what is the accounts receivable turnover?

Sales on account during year	$432,045
Cost of goods sold during year	180,534
Accounts receivable, beginning of year	41,109
Accounts receivable, end of year	52,125
Inventory, beginning of year	91,460
Inventory, end of year	108,970

business accounting

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Answer 1

Answer #1

Accounts Receivable Turnover = Credit sales /Average accounts receivables

= 432,045 / [(41109+52125)/2]

= 9.27 times

Comment if you face any issues. I've rounded upto 2 digits

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Answer 2

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