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23 August, 11:42

The financial statements of Bramble Manufacturing Company report net sales of $569500 and accounts receivable of $91000 and $43000 at the beginning and end of the year, respectively. What is the accounts receivable turnover for Bramble

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  1. 23 August, 12:19
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    8.5

    Explanation:

    Account receivable turnover is calculated by dividing the net credit sales by the average of account receivable.

    Net sales $569,000

    Account receivable $91,000

    Account receivable - $43000

    Average account receivables = (91000+43000) / 2 = $67,000

    Account receivable turnover = 569000/67000 = 8.5
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