Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

Question 1 8 ( Mandatory ) ( 2 points ) In 2 0 2 1 , Johnny's Consulting had cash sales of $ 8 3

image text in transcribed
Question 18(Mandatory)(2 points)
In 2021, Johnny's Consulting had cash sales of $83,684 and total sales of $176,413. Average accounts receivable were $3,275. What was accounts receivable turnover? What does this mean?
A)25.55- he turned his accounts receivable 25.55 times this accounting period.
B)28.31- he is turning his accounts receivable almost 2.4 times per month.
C)39.71- he is turning his accounts receivable over 3 times per month.
D)53.37- he turned his accounts receivable over 53 times this accounting period.
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

9781285586618

More Books

Students also viewed these Accounting questions