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Waterway Industries had accounts receivable of $106000 at 1/1. The only transactions affecting accounts receivable were sales of $855000 and cash collections of $801000. The acc…

Waterway Industries had accounts receivable of $106000 at 1/1. The only transactions affecting accounts receivable were sales of $855000 and cash collections of $801000. The acc…
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Waterway Industries had accounts receivable of $106000 at 1/1. The only transactions affecting accounts receivable were sales of $855000 and cash collections of $801000. The accounts receivable turnover is: __________

a. 5.8.
b. 5.3.
c. 6.4.
d. 8.1.

asked
User Nishantkyal
by
7.4k points

1 Answer

5 votes
the answer is..
C. 6.4

explanation:

855,000-801,000=54000
106,000+54,000=160,000
106,000+160,000/2=133,000
855,000/133,000=6.4
answered
User Mushuweasel
by
8.0k points
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