Logan Sales provides the following information: Net credit sales: $790,000 Beginning net accounts receivable: $43,000 Ending net accounts receivable: $22,000 Calculate the accounts receivable turnover ratio. (Round your answer to the nearest whole number.)

24 times

Explanation:

The formula to compute the accounts receivable turnover ratio is shown below:

Accounts receivable turnover ratio = Credit sales : average accounts receivable

where,

Average accounts receivable = (Opening balance of Accounts receivable + ending balance of Accounts receivable) : 2

= ($43,000 + $22,000) : 2

= $32,500

And, the net credit sale is $790,000

Now put these values to the above formula

So, the answer would be equal to

= $790,000 : $32,500

= 24 times