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The financial statements of Bramble Manufacturing Company report net sales of $569500 and accounts receivable of $91000 and $43000 at the beginning and end of the year, respectively. What is the accounts receivable turnover for Bramble

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Answer:

8.5

Explanation:

Account receivable turnover is calculated by dividing the net credit sales by the average of account receivable .

Net sales $569,000

Account receivable $91,000

Account receivable - $43000

Average account receivables = (91000+43000)/2= $67,000

Account receivable turnover = 569000/67000 =8.5

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