Eddy Corporation had net credit sales during the year of $800,000 and cost of goods sold of
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Eddy Corporation had net credit sales during the year of $800,000 and cost of goods sold of $500,000. The balance in receivables at the beginning of the year was $100,000 and at the end of the year was $150,000. What was the receivables turnover ratio?
(a) 6.4
(b) 8.0 (e)*53
(d) 4.0
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Related Book For
Financial Accounting Tools For Business Decision Making
ISBN: 9780471730514
4th Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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