Refer to the following selected financial information from CryptoCousins Co. . Compute the companys accounts...
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Accounting
Refer to the following selected financial information from CryptoCousins Co. . Compute the companys accounts receivable turnover for Year 2.
ROUND ASNWER TO 2 DECIMALS
(SHOW WORK)
|
| Year 2 | Year 1 |
| Cash | $ 37,500 | $ 36,850 |
| Short-term investments | 90,000 | 90,000 |
| Accounts receivable, net | 85,500 | 86,250 |
| Merchandise inventory | 121,000 | 117,000 |
| Prepaid expenses | 12,100 | 13,500 |
| Plant assets | 388,000 | 392,000 |
| Accounts payable | 113,400 | 111,750 |
| Net sales | 711,000 | 706,000 |
| Cost of goods sold | 390,000 | 385,500 |
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