Martin Sales Provides the Following Information: Net Credit Sales: $800,000

question 65

Multiple Choice

Martin Sales provides the following information: Net credit sales: $800,000
Beginning net accounts receivable: $40,000
Ending net accounts receivable: $23,000
Calculate the accounts receivable turnover ratio.(Round to the nearest whole number. )

• A)25 times
• B)33 times
• C)20 times
• D)35 times

Recognize the importance of peer relationships and friendship in childhood development.

Appreciate how play facilitates learning across different domains.

Identify strategies to support positive peer interactions and reduce bullying.

Comprehend the psychological and developmental functions of different kinds of friendships.

---

Definitions:

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against an asset since it was put into use, representing how much of its value has been used up.

Allowance

A provision in accounting for a reduction in the value of receivables or inventories, often related to potential bad debts or damaged goods.

Fair Value

The price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Classified Balance Sheet

A balance sheet that contains standard classifications or sections.