Sarahs Toy Shop has total sales of $100,000, net credit sales of $70,000, beginning accounts receivable of
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Sarah’s Toy Shop has total sales of $100,000, net credit sales of $70,000, beginning accounts receivable of $20,000, and ending accounts receivable of $30,000. What is Sarah’s accounts receivable turnover? Assume industry average is 2.9 times. How would you interpret Sarah’s turnover?
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The beginning balance of accounts receivable is 20000 The ending balance of accounts receivabl...View the full answer
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