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stranahan stranahan
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7 years ago
Perfect Purchase Electronics
   Selected Income Statement Items, 2009
Cash Sales   $1,500,000
Credit Sales   $7,500,000
Total Sales   $9,000,000
COGS   $6,000,000

   Perfect Purchase Electronics
   Selected Balance Sheet Accounts
   12/31/2009   12/31/2008   Change
Accounts Receivable   $270,000   $240,000   $30,000
Inventory   $125,000   $100,000   $25,000
Accounts Payable   $110,000   $90,000   $20,000

Using the information provided, what is the accounts receivable turnover for the firm?
A) 29.41 times
B) 53.33 times
C) 23.53 times
D) 60.00 times
Textbook 
Financial Management: Core Concepts

Financial Management: Core Concepts


Edition: 2nd
Author:
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UnluckyGirlXOXUnluckyGirlXOX
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stranahan Author
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7 years ago
Thank you very much for this. It's really helpful.
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