The following data are taken from the comparative balance sheets of Ruggers Company. Compute and interpret its
Question:
The following data are taken from the comparative balance sheets of Ruggers Company. Compute and interpret its accounts receivable turnover for year 2017 (competitors average a turnover of 7.5).
______________________________________ 2017 ____________ 2016
Accounts receivable, net ...................$153,400 ............. $138,500
Net sales ...................................... 861,105 ............910,600
Accounts ReceivableAccounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Interpretation An accounts receivable turnover of 59 implies that the companys average accounts ...View the full answer
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Related Book For 
Fundamental Accounting Principles
ISBN: 978-1259536359
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappett
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