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.)
A) 18 times
B) 24 times
C) 36 times
D) 34 times
B) 24 times
Explanation: Accounts receivable turnover ratio = [$790,000 / (($43,000 + $22,000) / 2))] = 24 times
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