The following information is from the annual financial statements of Nancy Company.
$\begin{array}{lrrr}
&2013&2012&2011\
\text { Net sales } & \$ 307,000 & \$ 238,000 & \$ 285,000 \
\text { Accounts receivable, net (year-end) } & 47,900 & 45,700 & 42,400
\end{array}$

What is the accounts receivable turnover ratio for 2013?
A) 6.41
B) 4.97
C) 6.72
D) 5.40
E) 6.56

Question

The following information is from the annual financial statements of Nancy Company.
$\begin{array}{lrrr}
&2013&2012&2011\
\text { Net sales } & \$ 307,000 & \$ 238,000 & \$ 285,000 \
\text { Accounts receivable, net (year-end) } & 47,900 & 45,700 & 42,400
\end{array}$

What is the accounts receivable turnover ratio for 2013?
A) 6.41 
B) 4.97 
C) 6.72 
D) 5.40 
E) 6.56

Quizplus · Accepted Answer

The Answer of The following information is from the annual financial statements of Nancy Company.
$\begin{array}{lrrr}
&2013&2012&2011\
\text { Net sales } & \$ 307,000 & \$ 238,000 & \$ 285,000 \
\text { Accounts receivable, net (year-end) } & 47,900 & 45,700 & 42,400
\end{array}$

What is the accounts receivable turnover ratio for 2013?
A) 6.41 
B) 4.97 
C) 6.72 
D) 5.40 
E) 6.56

The Following Information Is from the Annual Financial Statements of Nancy