Using the following data, calculate this companys accounts receivable turnover. Accounts receivable balance, December 31 . .

Question:

Using the following data, calculate this company’s accounts receivable 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...