Answered: Wildhorse Co. had net credit sales…

Name: Wildhorse Co. had net credit sales during the year of $1223200 and cos
Uploaded: 2024-03-04T10:43:15.000Z
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Description: Wildhorse Co. had net credit sales during the year of $1223200 and cost of goods sold of $712000. The balance in accounts receivable at the beginning of the year was $121200 and at the end of the year was $156800. What was the accounts receivable tur

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 44E: Whalen Company had net sales of 125,500,250,000. Whalen had the following balances: Required: Note:...

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Wildhorse Co. had net credit sales during the year of $1223200 and cost of goods sold of $712000. The balance in accounts receivable at the beginning of the year was $121200 and at the end of the year was $156800. What was the accounts receivable turnover?

10.8

7.5

5.6

8.8

Expert Solution

INTRODUCTION

ACCOUNTS RECEIVABLE TURNOVER :

= NET CREDIT SALES / (OPENING RECEIVABLES + CLOSING RECEIVABLES / 2 )

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