Question
The following balance sheet information was provided by O'Connor Company: Assets Year 2 Year 1 Cash $ 2,300 $ 1,300 Accounts receivable $ 7,300 $
The following balance sheet information was provided by O'Connor Company:
| Assets | Year 2 | Year 1 | |||||
| Cash | $ | 2,300 | $ | 1,300 | |||
| Accounts receivable | $ | 7,300 | $ | 5,300 | |||
| Inventory | $ | 23,000 | $ | 24,000 | |||
Assuming that net credit sales for Year 2 totaled $148,000, what is the company's most recent accounts receivable turnover?
Multiple Choice
23.49 times
20.27 times
27.92 times
11.75 times
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Evidence Based Audit In General Practice
Authors: Richard Baker, Robin C. Fraser MD FRCGP, Mayur Lakhani MRCP MRCGP DCH
1st Edition
075063104X, 978-0750631044
