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GenaCL600 [577]
2 years ago
13

Assume the following for a company whose sales are all on account: The total asset turnover is 1.8. The average total assets is

$600,000. The accounts receivable turnover is 9.00. The average accounts receivable balance is closest to:
Business
1 answer:
Sauron [17]2 years ago
7 0

The average accounts receivable balance is closest to $120,000.

<h3>What is the average accounts receivable balance?</h3>

The average accounts receivable balance is the addition of beginning and ending accounts receivable divided by two.

For instance, if the average accounts receivable balance is $120,000, then the total accounts receivable is $240,000 ($120,000 x 2).

<h3>Data and Calculations:</h3>

Assets turnover = 1.8

= (Net sales/Average Total Assets)

Average total assets = $600,000

Accounts receivable turnover = 9.00

= (Net Sales/Average Accounts Receivable)

Net sales = $1,080,000 ($600,000 x 1.8)

Average Accounts Receivable = $120,000 ($1,080,000/9)

Thus, the average accounts receivable balance is closest to $120,000.

Learn more about average accounts receivable at brainly.com/question/23821865

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