Question
Georgetown Retail Outlet provided the following financial information: Accounts Receivable balance as of 1/1/2017$100,000Accounts Receivable balance as of 12/31/2017$110,000Net Credit Sales for the year 2017$766,500Cost
Georgetown Retail Outlet provided the following financial information:
Accounts Receivable balance as of 1/1/2017$100,000Accounts Receivable balance as of 12/31/2017$110,000Net Credit Sales for the year 2017$766,500Cost of Goods Sold for the year 2017$337,260
Calculate Accounts Receivable Turnover.
7.30 times
50.00 times
0.80 times
454.55 times
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Accounting Information Systems
Authors: Vernon Richardson, Chengyee Chang, Rod Smith
2nd edition
