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Compute for each year the accounts receivable turnover

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Reference no: EM131812278

Exercise-

The following data are taken from the financial statements of Rainsberger Company.

2015

2014

Accounts receivable (net), end of year

$517,500

$483,900

Net sales on account

3,989,000

3,075,300

Terms for all sales are 1/10, n/60.

Compute for each year the accounts receivable turnover. At the end of 2013, accounts receivable (net) was $505,500. (Round answers to 1 decimal place, e.g. 1.6.)

 

Reference no: EM131812278

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