Solved

A Company Has a Receivables Turnover Ratio of 12

Question 15

Multiple Choice

A company has a receivables turnover ratio of 12.The average gross accounts receivable during the period is $360,000.What is the amount of credit sales for the period?


A) $432,000
B) $3,000,000
C) $4,320,000
D) Cannot be determined from the information given.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q10: A liquidity ratio measures the<br>A)net income or

Q11: Use the following information for questions <br>

Q12: Use the following information for questions <br>During

Q13: Sales are $2,700,000, beginning total assets are

Q14: When preparing a vertical analysis on an

Q16: A horizontal analysis is being conducted with

Q17: A component of an entity represents a

Q18: Use the following information for questions <br>Nelly

Q19: On financial statements that include vertical analysis,

Q20: A weakness of the current ratio is<br>A)the