Question
The following balance sheet information was provided by O'Connor Company: Assets Year 2 Year 1 Cash $ 4,000 $ 2,000 Accounts receivable 15,000 12,000 Inventory
The following balance sheet information was provided by O'Connor Company: Assets Year 2 Year 1 Cash $ 4,000 $ 2,000 Accounts receivable 15,000 12,000 Inventory $ 35,000 $ 38,000 Assuming that net credit sales for Year 2 totaled $270,000, what is the company's most recent accounts receivable turnover? Multiple Choice
18 times
7.7 times
20 times
22.5 times
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Management Accounting
Authors: Anthony A. Atkinson, Robert S. Kaplan, S. Mark Young, Rajiv D. Banker, Pajiv D. Banker
3rd Edition
9780130101952
