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Alja [10]
3 years ago
7

Magneto Company had net credit sales during the year of $1,350,000 and cost of goods sold of $810,000. The balance in accounts r

eceivable at the beginning of the year was $180,000, and the end of the year it was $120,000. What was the accounts receivable turnover?
Business
1 answer:
Mamont248 [21]3 years ago
4 0

Answer:

Account receivable turnover ratio = 9

Explanation:

The account receivable turnover ratio shows how well a business is managing its credit line it extended to its customers.It provides information on how effective a business is in the collection of amounts due from customers in respect of credit sales made.

It is calculated using the  formula below:

Account receivable turnover  =

Net credit sales/ Average account receivable

<em>Average account receivable=</em>

<em>(Receivable balance at the begin. + Receivable balance at the end)/2</em>

We can calculate the account receivable turnover for Magneto Company as follows:

Step 1

<em>calculate the average account receivable</em>

= ($180,000+ $120,000)/2

= $150,000

Step 2

<em>Calculate the account receivable turnover ratio ( ARTR)</em>

ART = $1,350,000/$150,000

      = 9

Account receivable turnover ratio = 9

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The Industrial Revolution was characterized by use of steam power, growth of factories, mass production etc

Therefore, the Option A is correct.

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Answer: Peripheral route.

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In this case, Trevor was guided by what he saw to decide, so he followed the peripheral route of persuasion.

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5 0
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Residents of Mill River have fond memories of ice skating at a local park. An artist has captured the experience in a drawing an
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Answer:

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Explanation:

elegant version:

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Honduras is a small economy in central america. it keeps a fixed exchange rate with the us. capital is perfectly mobile. you may
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Answer:

Given that Honduras is a small economy in Central America, and it keeps a fixed exchange rate with the US, and capital is perfectly mobile, but interest rates are three percent in the US and six percent in Honduras, the explanation of the difference in these interest rates are as follows:

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