Problem about ending accounts receivable balance
With a beginning accounts receivable balance of $80,000; an ending accounts receivable balance of $120,000; and net credit sales of $900,000, the accounts receivable turnover is:
A. 9.00.
B. 4.50.
C. 7.50.
D. 11.25.
Expected delivery within 24 Hours
Rick's has a cash balance of $80,000; short-term investments of $20,000; net receivables of $60,000; and inventory of $450,000. Current liabilities total $200,000. Ricks' acid test (quick ratio) is within:
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