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Using the following information, calculate the receivables turnover ratio. Sales revenue Credit card discount Bad debt expense Cost of goods sold Utilities expenses Sales returns . $350,000 . $4,000 $5,000 $175,000 $35,000 Depreciation expense $15,000 Beginning accounts receivable and allowance for doubtful accounts were $75,000 and $3,000, respectively Ending accounts receivable and allowance for doubtful accounts were $88,000 and $5,000, respectively $5,000

Using the following information, calculate the receivables turnover ratio. Sales revenue Credit card discount Bad debt expense Cost of goods sold Utilities expenses Sales returns . $350,000 . $4,000 $5,000 $175,000 $35,000 Depreciation expense $15,000 Beginning accounts receivable and allowance for doubtful accounts were $75,000 and $3,000, respectively Ending accounts receivable and allowance for doubtful accounts were $88,000 and $5,000, respectively $5,000

Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter15: Financial Statement Analysis
Section: Chapter Questions
Problem 44E: Whalen Company had net sales of 125,500,250,000. Whalen had the following balances: Required: Note:...
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Using the following information, calculate the receivables turnover ratio. Sales revenue Credit card discount Bad debt expense Cost of goods sold Utilities expenses Sales returns . $350,000 . $4,000 $5,000 $175,000 $35,000 Depreciation expense $15,000 Beginning accounts receivable and allowance for doubtful accounts were $75,000 and $3,000, respectively Ending accounts receivable and allowance for doubtful accounts were $88,000 and $5,000, respectively $5,000
Transcribed Image Text:Using the following information, calculate the receivables turnover ratio. Sales revenue Credit card discount Bad debt expense Cost of goods sold Utilities expenses Sales returns . $350,000 . $4,000 $5,000 $175,000 $35,000 Depreciation expense $15,000 Beginning accounts receivable and allowance for doubtful accounts were $75,000 and $3,000, respectively Ending accounts receivable and allowance for doubtful accounts were $88,000 and $5,000, respectively $5,000
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