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Larkspur Company reported net credit sales of $5,950,340 this year. The company had accounts receivable of $557,000 at the beginning of the year. During the
Larkspur Company reported net credit sales of $5,950,340 this year. The company had accounts receivable of $557,000 at the beginning of the year. During the year, in addition to credit sales, Larkspur collected accounts receivable of $5,768,340, wrote off $38,000 on uncollectible accounts, collected $4,100 worth of previously written off accounts, and booked an additional bad debt expense estimate of $42,500. (a) What is Larkspur's accounts receivable turnover for the year? (Round answer to 2 decimal places, e.g. 5.75.) Accounts receivable turnover times
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