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neonofarm [45]
2 years ago
5

Net credit sales $120,000 Average accounts receivable 20,000 Cash collections on credit sales 100,000 What is the receivables tu

rnover ratio
Business
1 answer:
Kazeer [188]2 years ago
4 0

Answer:

6:1

Explanation:

Net credit sales is $120,000

Account receivable is $20,000

Cash collection on credit sales is $100,000

.

Therefore the receivables turnover ratio can be calculated as follows

= 120,000/20,000

= 6:1

Hence receivable turnover ratio is 6:1

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