At December 31, 2024, Blossom Imports reported this information on its balance sheet. Accounts receivable $588,000...
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At December 31, 2024, Blossom Imports reported this information on its balance sheet. Accounts receivable $588,000 Less: Allowance for doubtful accounts 40,000 During 2025, the company had the following transactions related to receivables. 1. Sales on account 2. Sales returns and allowances $2,910,000 50,000 3. Collections of accounts receivable 4. Write-offs of accounts receivable deemed uncollectible 5. Recovery of bad debts previously written off as uncollectible 2,610,000 40,000 15,000 Compute the accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.4.) Accounts receivable turnover times At December 31, 2024, Blossom Imports reported this information on its balance sheet. Accounts receivable $588,000 Less: Allowance for doubtful accounts 40,000 During 2025, the company had the following transactions related to receivables. 1. Sales on account 2. Sales returns and allowances $2,910,000 50,000 3. Collections of accounts receivable 4. Write-offs of accounts receivable deemed uncollectible 5. Recovery of bad debts previously written off as uncollectible 2,610,000 40,000 15,000 Compute the accounts receivable turnover. (Round answer to 1 decimal place, e.g. 12.4.) Accounts receivable turnover times
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