College Accounting, Chapters 1-27
Solutions
College Accounting, Chapters 1-27
LO4 Accounts receivable turnover is the number of times merchandise inventory turned over or was sold during the accounting period.
Identify whether the given statement is true or false.
Accounts receivable turnover:
Accounts receivable turnover is a liquidity measure of accounts receivable in times, which is computed by dividing “the net credit sales by the average amount of net accounts receivables”.
It indicates the number of times the average amount of net accounts receivables collected during a particular period.
Formula to compute accounts receivables turnover ratio is as follows:
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