During 2017, Victory Inc. had beginning accounts receivable of $42,000 and ending accounts receivable of...
70.2K
Verified Solution
Link Copied!
Question
Accounting
During 2017, Victory Inc. had beginning accounts receivable of $42,000 and ending accounts receivable of $48,000. Its net sales of $450,000 are composed of 20% cash sales and 80% credit sales. Based on this information, what is Victorys receivables turnover ratio?
Group of answer choices
7.5 times
8.0 times
10.0 times
2.0 times
None of the answer choices is correct.
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
- Unlimited Question Access with detailed Answers
- Zin AI - 3 Million Words
- 10 Dall-E 3 Images
- 20 Plot Generations
- Conversation with Dialogue Memory
- No Ads, Ever!
- Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.