Question

Nash's Trading Post, LLC had a balance in the Accounts Receivable account of $761000 at the beginning of the year and a balance of $841000 at the end of the year. Net credit sales during the year amounted to $3204000. The accounts receivable turnover was

Answer 1

4

Step-by-step explanation:

receivable turnover = net credit sales / average inventory

avarage iventory = ($761000 + $841000) / 2 = $801,000

$3,204,000 / $801,000 = 4