Question - Based on the following data for the current year, what is the accounts receivable turnover?
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Net sales on account during year
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$519,494
|
|
Cost of merchandise sold during year
|
204,561
|
|
Accounts receivable, beginning of year
|
48,144
|
|
Accounts receivable, end of year
|
50,807
|
|
Inventory, beginning of year
|
96,875
|
|
Inventory, end of year
|
105,225
|
4.9
10.8
2.5
10.5