The following balance sheet information was provided by O'Connor Company: Assuming that net credit sales for Year 2 totaled $270,000, what is the company's most recent accounts receivable turnover?
$$\begin{array} { | l | r r | r r | }
\hline \text { Assets } & & 2014 & 2013 \
\hline \text { Cash } & \$ & 4,000 & \$ & 2,000 \
\hline \text { Accounts receivable } & & 15,000 & & 12,000 \
\hline \text { Inventory } & \$ & 35,000 & \$ 38,000 \
\hline
\end{array}$$
A)18 times
B)20 times
C)22.5 times
D)7.7 times

Question

The following balance sheet information was provided by O'Connor Company: Assuming that net credit sales for Year 2 totaled $270,000, what is the company's most recent accounts receivable turnover?
$$\begin{array} { | l | r r | r r | } 
\hline \text { Assets } & & 2014 & 2013 \
\hline \text { Cash } & \$ & 4,000 & \$ & 2,000 \
\hline \text { Accounts receivable } & & 15,000 & & 12,000 \
\hline \text { Inventory } & \$ & 35,000 & \$ 38,000 \
\hline
\end{array}$$
A)18 times
B)20 times
C)22.5 times
D)7.7 times

Quizplus · Accepted Answer

The Answer of The following balance sheet information was provided by O'Connor Company: Assuming that net credit sales for Year 2 totaled $270,000, what is the company's most recent accounts receivable turnover?
$$\begin{array} { | l | r r | r r | } 
\hline \text { Assets } & & 2014 & 2013 \
\hline \text { Cash } & \$ & 4,000 & \$ & 2,000 \
\hline \text { Accounts receivable } & & 15,000 & & 12,000 \
\hline \text { Inventory } & \$ & 35,000 & \$ 38,000 \
\hline
\end{array}$$
A)18 times
B)20 times
C)22.5 times
D)7.7 times

The Following Balance Sheet Information Was Provided by O'Connor Company