Multiple Choice
Watins, Inc.'s 2011 income statement reported net sales of $5,000,000. Watin's average accounts receivable during 2011 amounted to $450,000. Using 360 days to a year, Watin's:
A) Accounts receivable turnover rate is approximately 13.8 times.
B) Accounts receivable turnover rate is approximately 1.25 times.
C) Average number of days to collect an account receivable is 32 days.
D) Accounts receivable turnover rate is approximately 2 times.
Correct Answer:
Verified
Correct Answer:
Verified
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