Question

If Randolph Corp. has accounts receivables of $422,442 and net sales of $1,585,508, what is its accounts receivable tumover? Round your final answer to two decimal places if needed.

Answer 1

The accounts receivable turnover for Randolph Corp. is 3.75.

To calculate the accounts receivable turnover, we divide the net sales by the accounts receivables. In this case, we divide $1,585,508 by $422,442, which gives us 3.75. Therefore, the accounts receivable turnover for Randolph Corp. is 3.75.