Financial statements for Marcell Company appear below:
-Marcell Company's accounts receivable turnover for Year 2 was closest to:
A)16.2
B)9.9
C)23.2
D)14.2

Question

Financial statements for Marcell Company appear below:  
-Marcell Company's accounts receivable turnover for Year 2 was closest to:
A)16.2 
B)9.9 
C)23.2 
D)14.2

Quizplus · Accepted Answer

Accounts receivable turnover = Sales on account F1F1F1S1F1F1F10 Average accounts receivable balance
= $2,550 F1F1F1S1F1F1F10 $110* = 23.2
*Average accounts receivable balance = ($110 + $110)F1F1F1S1F1F1F10 2 = $110

Financial Statements for Marcell Company Appear Below