With a beginning Accounts Receivable balance of $81,000; an ending Accounts Receivable balance of $117,000; and...

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With a beginning Accounts Receivable balance of $81,000; an ending Accounts Receivable balance of $117,000; and Sales of $880,000, what is the Accounts Receivable tumover? (Round your final answer to two decimal places.) О 10.86 8.89 ● 21.73 13.31

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Answer 1

Answer #1

Average accounts receivables = [ Beginning accounts receivables + Ending accounts receivables ] / 2 = [ $81,000 + 117,000 ] / 2 = $99,000

Accounts receivable turnover = Sales / Average accounts receivables = $880,000 / $99,000 = 8.89

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Answer 2

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