Dieringer Corporation's most recent balance sheet and income statement appear below:
-The accounts receivable turnover for Year 2 is closest to:
A)1.14
B)8.19
C)0.88
D)8.73

Question

Dieringer Corporation's most recent balance sheet and income statement appear below:  
-The accounts receivable turnover for Year 2 is closest to:
A)1.14 
B)8.19 
C)0.88 
D)8.73

Quizplus · Accepted Answer

Accounts receivable turnover = Sales on account F1F1F1S1F1F1F10 Average accounts receivable balance
= $1,310 F1F1F1S1F1F1F10 $150* = 8.73
*Average accounts receivable balance = ($160 + $140)F1F1F1S1F1F1F10 2 = $150

Dieringer Corporation's Most Recent Balance Sheet and Income Statement Appear