Remington Corporation had accounts receivable of $100,000 at 1/1. The only transactions affecting accounts receivable were sales of $750,000 and cash collections of $700,000. The accounts receivable turnover is

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Accounts receivable turnover = (Net credit sales) / (Average accounts receivable)
Net credit sales = Sales - Cash collections = $750,000 - $700,000 = $50,000
Average accounts receivable = (Beginning accounts receivable + Ending accounts receivable) / 2
Ending accounts receivable = Beginning accounts receivable + Net credit sales = $100,000 + $50,000 = $150,000
Average accounts receivable = ($100,000 + $150,000) / 2 = $125,000
Accounts receivable turnover = $50,000 / $125,000 = 0.4
Accounts receivable turnover = 6.0

Remington Corporation Had Accounts Receivable of $100,000 at 1/1