Streyna Company reported net sales of $95,000 for the current year. Accounts Receivable at the beginning of the year was $11,000 and $9,000 at the end of year. The accounts receivable turnover is closest to:
A)9)5.
B)10.56.
C)8)64.
D)4)75.

Question

Quizplus · Accepted Answer

Accounts receivable turnover = Net sales / Average accounts receivableAverage accounts receivable = (Beginning accounts receivable + Ending accounts receivable) / 2= ($11,000 + $9,000) / 2= $10,000Accounts receivable turnover = $95,000 / $10,000= 9.5

Streyna Company Reported Net Sales of $95,000 for the Current