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The financial statements of the Kingbird, Inc. reports net sales of $323700 and accounts receivable of $49000 and $29000 at the beginning of the year and end of year, respectively. What is the accounts receivable turnover for Kingbird

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ayokenny2001

Answer:

See below

Explanation:

Given that;

Net sales = $323,700

Beginning accounts receivables = $49,000

Ending accounts receivables = $29,000

Account receivable turnover is computed as

= Net credit sales / Average accounts receivables

Average accounts receivables = $49,000 + $29,000 / 2 = $39,000

Net sales = $323,700

Then,

Accounts receivable turnover = $323,700 / $39,000

Account receivables turnover = 8.3 times

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