Brief Exercise 14-11 The following data are taken from the financial statements of Rainsberger Company.

2018 2017

Accounts receivable (net), end of year $580,000 $475,000

Net sales on account 4,010,000 3,020,000

Terms for all sales are 1/10, n/60.

Compute for each year the accounts receivable turnover. At the end of 2016, accounts receivable (net) was $530,000.

(Round answers to 1 decimal place, e.g. 1.6.)

2018 2017

Accounts receivable turnover Entry field with correct answer 7.60 times ?