Using the following data, calculate the company's accounts receivable turnover. Accounts receivable balance, December 31 . .

Question:

Using the following data, calculate the company's turnover.
Accounts receivable balance, December 31 . . . . . . . . . . . . . . . . . . . . . . . $ 54,000
Inventory balance, December 31 . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . 59,000
Sales revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 520,000
Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 310,000
Accounts receivable balance, January 1 . . . . . . . .. . . . . . . . . . . . . . . . . . . 46,000
Accounts Receivable
Accounts 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...