Espat Corp reported net sales (all on credit) of $1,600,000 and cost of goods sold of $1,100,000 for 2016 . Its beginning balance of Accounts Receivable was $150,000 . The accounts receivable balance decreased by $10,000 during 2016 . Rounded to two decimal places, what is Espat's accounts receivable turnover rate for 2016?
a. 7.59
b. 10.32
c. 10.67
d. 11.03
d
You might also like to view...
Proton Corp is an automobile manufacturer known for producing efficient, durable, and low-priced cars. Recently, the company launched a new range of luxury cars to broaden its market appeal and to add prestige to its existing line of cars
This is an example of ________. A) social marketing B) product line filling C) product line stretching D) internal marketing E) cannibalization
The future value of a cash flow is always larger than the present value of that cash flow
Indicate whether the statement is true or false
For services, Nick gave Cathy a $100 negotiable check. The check was payable to the order of Cathy. Cathy indorsed the check in blank and gave it to Bob in payment for a CD player she had purchased from him. Bob did not indorse the check but gave it to Sandy to repay a loan. Which statement is correct?
a. Bob has no liability on the check because he did not indorse it. b. Bob gave transfer warranties to Sandy. c. Bob has secondary contractual liability only. d. Bob made no transfer warranties to Sandy.
Any data that are retrieved by a user for updating must be locked until the update is completed or aborted
Indicate whether the statement is true or false