Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. given the following information regarding accounts

Given the following information regarding accounts receivable Accounts receivable, December 31 $ 5,000 Total current...

90.2K

Verified Solution

Question

Accounting

Given the following information regarding accounts receivable

Accounts receivable, December 31 $ 5,000

Total current assets, January 1 20,000

Sales (40% cash sales) 50,000

Total current assets, December 31 26,000

Accounts receivable, January 1 3,000

What is the accounts receivable turnover?

a. 7.5 times

b. 5.75 times

c. 6 times

d. 12.5 times

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Find the steady-state current ip(t) in an LRC-series circuit when L = 1 2 h, R...

Advance Math
Q

Step 5: Imagine you are a red blood cell sitting in the right atrium of...

Biology
Q

An observer D is located 500 feet from a school i The observer notices a...

Geometry
Q

Assignment 2 4 points Given is the weight matrix A of a directed graph D...

Basic Math
Q

Given the points C(-3,-1) and D(-1,-6), express the vector CD in terms of i and...

Basic Math
Q

The slope of the tangent line to a curve is given by f x 2x...

Calculus
Q

Write down a firm As profit maximization problem. Assume that the firm has fixed...

Accounting
Q

Required information [The following information applles to the questions displayed below]...

Accounting
Q

Jordan purchased her house for $200,000, making a 20% down payment and taking out a...

Accounting
Q

The method of solution requires indirect method. During 2020, you were hired as the Chief...

Accounting
Q

True or False This is correct usage of who/whom in the following sentence:...

Finance
Q

Lo-bed Company produced 4,000 units of product that required four standard hours per unit. The...

Accounting