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Knowledge Check 01 Consider the following information: Accounts receivable Merchandise inventory Net sales Cost of goods sold Year 2 $ 88,000 66,000 408,000 248,000 Year
Knowledge Check 01 Consider the following information: Accounts receivable Merchandise inventory Net sales Cost of goods sold Year 2 $ 88,000 66,000 408,000 248,000 Year 1 $ 80,000 80,000 380,000 228,000 What is the Year 2 receivables turnover ratio for Year 2? Receivables turnover ratio 5.26
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