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Required information Skip to question [ The following information applies to the questions displayed below. ] The following information applies to Markham Company: Assets Cash

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Required information
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[The following information applies to the questions displayed below.]
The following information applies to Markham Company:
Assets
Cash $ 8,600
Accounts receivable 19,500
Inventory 22,500
Plant and equipment, net 27,500
Land 25,500
Total assets $103,600
Liabilities and stockholders' equity
Accounts payable $ 11,500
Salaries payable 16,500
Bonds payable (due after 3 years)18,500
Capital stock, no par 29,500
Retained earnings 27,600
Total liabilities and stockholders' equity $103,600
Additional information: Net credit sales equal $350,000 and beginning accounts receivable were $24,000.
Required:
(d) Compute Markham's accounts receivable turnover.Required information
[The following information applies to the questions displayed below.]
The following information applies to Markham Company:
Additional information: Net credit sales equal $350,000 and beginning accounts receivable were $24,000.
Required:
(d) Compute Markham's accounts receivable turnover.
Note: Round your answer to two decimal places.
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