Frantic Company Had $130,000 in Sales on Account Last Year

question 185

Multiple Choice

Frantic Company had $130,000 in sales on account last year.The beginning accounts receivablebalance was $10,000,and the ending accounts receivable balance was $16,000.The company's accounts receivable turnover was closest to which of the following?

• A) 5.00 times.
• B) 8.13 times.
• C) 10.00 times.
• D) 13.00 times.

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Definitions:

Frequency Distributions

A statistical representation, often in the form of a table or graph, showing how often each different value occurs in a set of data.

Class Width

The difference between the upper and lower boundaries of any class (category) in a frequency distribution.

Data Set

A collection of related sets of information that is composed of separate elements but can be manipulated as a unit by a computer.

Total Frequency

The sum of all frequencies in a data set, representing the total number of times a data point or category occurs.