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Naya [18.7K]
3 years ago
7

Hickory Hills Pro Shop had a balance in the Accounts Receivable account of

Business
1 answer:
MArishka [77]3 years ago
3 0

Answer:

1) 9.5 times.

Explanation:

Accounts Receivable Turnover Ratio = Net Credit Sales / Average Accounts Receivable

Average accounts receivable = beginning accounts receivable + closing accounts receivable / 2

= $800,000 + $900,000/2

=$1,700,000 /2

=$850,000

Accounts Receivable Turnover Ratio = $8,040,000/$850,000

Accounts Receivable Turnover Ratio  = 9.4588

=9. 5

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