The following information is from the annual financial statements of Nancy Company.
$$\begin{array} { l r r r }
& 2010 & 2009 & 2008 \
\text { Net Sales } & \$ 3 0 7 , 0 0 0 & \$ 2 3 8 , 0 0 0 & \$ 2 8 5 , 0 0 0 \
\text { Accounts Receivable, net (year-end) } & 47,900 & 45,700 & 42,400
\end{array}$$

What is the accounts receivable turnover ratio for 2010?
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.
$$\begin{array} { l r r r } 
& 2010 & 2009 & 2008 \
\text { Net Sales } & \$ 3 0 7 , 0 0 0 &  \$ 2 3 8 , 0 0 0  &  \$ 2 8 5 , 0 0 0  \
\text { Accounts Receivable, net (year-end) } & 47,900 & 45,700 & 42,400
\end{array}$$

What is the accounts receivable turnover ratio for 2010?
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.
$$\begin{array} { l r r r } 
& 2010 & 2009 & 2008 \
\text { Net Sales } & \$ 3 0 7 , 0 0 0 &  \$ 2 3 8 , 0 0 0  &  \$ 2 8 5 , 0 0 0  \
\text { Accounts Receivable, net (year-end) } & 47,900 & 45,700 & 42,400
\end{array}$$

What is the accounts receivable turnover ratio for 2010?
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