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disa [49]
3 years ago
14

Net credit sales for Winner Company are $100,000 for the year. The Accounts Receivable account had a balance of $15,000 at the b

eginning of the year and $25,000 at the end of the year. What is the company's receivables turnover ratio?
Business
1 answer:
Valentin [98]3 years ago
6 0

Answer:

Receivables turnover ratio = 5

Explanation:

Receivables turnover ratio = Net Credit Sales / Average accounts receivable

Receivables turnover ratio = $100,000/$20,000

Receivables turnover ratio = 5

Average accounts receivable = (Beginning Account Receivable + Ending Account Receivable) /2

Average accounts receivable = ($15,000+$25,00)/2

Average accounts receivable = $40,000/2

Average accounts receivable = $20,000

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