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Compute the accounts receivable turnover ratio

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Reference no: EM13962547

Lashkova Company had accounts receivable of $100,000 on January 1, 2014. The only transactions that affected accounts receivable during 2014 were net credit sales of $1,000,000, cash collections of $920,000, and accounts written off of $30,000.

(a) Compute the ending balance of accounts receivable.

Ending balance of accounts receivable $

(b) Compute the accounts receivable turnover ratio for 2014.

Reference no: EM13962547

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