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

A)17.5
B)2.6
C)20.0
D)15.5

Name: Based on the following data for the current year,what is the accounts receivable turnover? A)17.5 B)2.6 C)20.0 D)15.5
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Question

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

A)17.5 
B)2.6 
C)20.0 
D)15.5

Quizplus · Accepted Answer

Accounts Receivable Turnover = Net Credit Sales / Average Accounts Receivable
= $455,000 / ($26,000 + $20,000)/2
= $455,000 / $23,000
= 19.78 (rounded to nearest tenth)
Therefore, the accounts receivable turnover is approximately 17.5.

Based on the Following Data for the Current Year,what Is