Logan Sales provides the following information: Net credit sales: $790,000
Beginning net accounts receivable: $43,000
Ending net accounts receivable: $22,000
Calculate the accounts receivable turnover ratio.(Round your answer to the nearest whole number.)
A) 18 times
B) 24 times
C) 36 times
D) 34 times

Question

Quizplus · Accepted Answer

Accounts receivable turnover ratio = [$790,000 / (($43,000 + $22,000) / 2))] = 24 times

Logan Sales Provides the Following Information: Net Credit Sales: $790,000