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Confection Bakery Supply began the year with an Accounts Receivable balance of $25,000. Net sales (all on account) for the year amounted to $100,000 and no cash discount was offered. During the year, $70,000 was collected on accounts receivable. What is the accounts receivable turnover ratio? a.) 1.3 times b.) 4.0 times c.) 1.8 times d.) 2.5 times

Confection Bakery Supply began the year with an Accounts Receivable balance of $25,000. Net sales (all on account) for the year amounted to $100,000 and no cash discount was offered. During the year, $70,000 was collected on accounts receivable. What is the accounts receivable turnover ratio? a.) 1.3 times b.) 4.0 times c.) 1.8 times d.) 2.5 times

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter5: Sales And Receivables
Section: Chapter Questions
Problem 49BE: Accounts Receivable Balance Hart Inc. began the year with $315,700 of accounts receivable. During...
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Confection Bakery Supply began the year with an Accounts Receivable balance of $25,000. Net sales (all on account) for the year amounted to $100,000 and no cash discount was offered. During the year, $70,000 was collected on accounts receivable. What is the accounts receivable turnover ratio?

a.) 1.3 times
b.) 4.0 times
c.) 1.8 times
d.) 2.5 times
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