Question
Ford Hardware Store had net credit sales of $3,920,000 and cost of goods sold of $3,000,000 for the year. The Accounts Receivable balances at the
Ford Hardware Store had net credit sales of $3,920,000 and cost of goods sold of $3,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were $650,000 and $750,000, respectively. The receivables turnover ratio was
| A. | 6.5 times. |
| B. | 6.0 times. |
| C. | 5.6 times. |
| D. | 6.2 times |
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Fundamentals Of Cost Accounting
Authors: William Lanen, Shannon Anderson
2nd Edition
0071332618, 978-0071332613
