Question
The Rye Corporation has provided the following information: Total sales were $1,245,000. Beginning net accounts receivable was $49,500. Ending net accounts receivable was $62,750. Sales
The Rye Corporation has provided the following information:
Total sales were $1,245,000.
Beginning net accounts receivable was $49,500.
Ending net accounts receivable was $62,750.
Sales returns and allowances totaled $109,000.
What was Ryes receivables turnover ratio?
20.24
22.20
19.80
10.12
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Fundamental Managerial Accounting Concepts
Authors: Thomas Edmonds, Christopher Edmonds, Bor Yi Tsay, Philip Old
7th edition
978-0077632427, 77632427, 78025656, 978-0078025655
