Mike McKinney Corporation had accounts receivable of $100,000 at 1/1. The only transactions affecting accounts receivable were sales of $600,000 and cash collections of $550,000. The accounts receivable turnover is

Name: Mike McKinney Corporation had accounts receivable of $100,000 at 1/1. The only transactions affecting accounts receivable were sales of $600,000 and cash collections of $550,000. The accounts receivable turnover is
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Question

Quizplus · Accepted Answer

$600,000 ÷ [($100,000 + $150,000) ÷ 2] = 4.8

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