Meranda Corporation reported cash sales of $235,000; net credit sales of $515,000; beginning net accounts receivable of $212,000; and ending net accounts receivable of $224,000. Meranda's accounts receivable turnover is:

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The accounts receivable turnover is calculated as net credit sales divided by the average accounts receivable. Average accounts receivable is ($212,000 + $224,000) / 2 = $218,000. Therefore, the turnover is $515,000 / $218,000 = 2.36.

Meranda Corporation Reported Cash Sales of $235,000; Net Credit Sales