Below are the two most recent balance sheets and most recent income statement for Seashell Industries....

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Answer 1

Answer #1

Ans. Accounts receivable turnover ratio = Revenue / Average accounts receivable

= 42000 / 3750

= 11.20 times

* Average accounts receivable = (beginning accounts receivable + ending accounts receivable) / 2

= (1500 + 6000) / 2

= 7500 / 2

= 3750

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Answer 2

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Below are the two most recent balance sheets and most recent income statement for Seashell Industries....

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