cnash5140 cnash5140

28-05-2021
Business

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

Respuesta :

Ritmeks Ritmeks

01-06-2021

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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