The financial statements of Daye Manufacturing Company report net sales of $720000 and accounts receivable of $70000 and $90000 at the beginning and end of the year respectively. What is the accounts receivable turnover for Daye?

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Accounts receivable turnover = Net sales / Average accounts receivableAverage accounts receivable = (Beginning accounts receivable + Ending accounts receivable) / 2= ($70,000 + $90,000) / 2= $80,000Accounts receivable turnover = $720,000 / $80,000= 9 times

The Financial Statements of Daye Manufacturing Company Report Net Sales