Using the Information Provided,what Is the Accounts Receivable Turnover for the Firm

question 46

Multiple Choice

Using the information provided,what is the accounts receivable turnover for the firm? Perfect Purchase Electronics
Selected Income Statement Items,2014
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
12/31/2014 12/31/2013 Change
Accounts Receivable $270,000 $240,000 $30,000
Inventory $125,000 $100,000 $25,000
Accounts Payable $110,000 $90,000 $20,000

• A)23.53 times
• B)29.41 times
• C)53.33 times
• D)60.00 times

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