Managerial Accounting: The Cornerstone of Business Decision-Making
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN: 9781337115773
Author: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher: Cengage Learning
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Please given correct answer general accounting question

Apex Corporation reported net credit sales of $2,400,000 and
cost of goods sold of $1,600,000 for the year. The accounts
receivable balance was $280,000 at the beginning of the year
and $320,000 at the end of the year. Calculate the accounts
receivable turnover ratio.
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Transcribed Image Text:Apex Corporation reported net credit sales of $2,400,000 and cost of goods sold of $1,600,000 for the year. The accounts receivable balance was $280,000 at the beginning of the year and $320,000 at the end of the year. Calculate the accounts receivable turnover ratio.
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Managerial Accounting: The Cornerstone of Busines...
Accounting
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Cengage Learning