The following information is from the annual financial statements of Raheem Comp

Question

The following information is from the annual financial statements of Raheem Company. 2017 2016 2015 $472,000 $403,000 $454,000 Accounts receivable, net (year-end) 38,000 35,800 32,500 Net sales Compute its accounts receivable turnover for 2016 and 2017. Answer is complete but not entirely correct. Accounts Receivable Turnover Choose Accounts Receivable Choose Denominator: Nu Net sales Turnover Accounts receivable turnover - 11.3 times Average accounts receivable, net 403,000 S 472,000 S 5,800 38,000124 times 2017: $

Explanation / Answer

Note :

Answer :

Net Sales / Avg Accounts Receivable = Accounts Receivable Turnover 2016 $403,000 / $34,150 = 11.8 times 2017 $472,000 / $36,900 = 12.8 times

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