Alliance Software began 2018 with accounts receivable of $115,000. All sales are made on credit. Sales and cash collections from customers for the year were $780,000 and $700,000, respectively. Cost of goods sold for the year was $450,000. What was Alliance's receivables turnover ratio (rounded) for 2018?

Question

Quizplus · Accepted Answer

$115,000 + 780,000 - 700,000 = $195,000 = Ending accounts receivable 11ea937b_363b_7cb7_a419_3d17628cdc5d_TB2599_00 = 5.03

Alliance Software Began 2018 with Accounts Receivable of $115,000