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Author Question: The 2020, 2021, and 2022 partial balance sheets for Ottoman Manufacturing Company appear ... (Read 40 times)

hjfhdiskkjs

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on: Feb 5, 2023
The 2020, 2021, and 2022 partial balance sheets for Ottoman Manufacturing Company appear below.

​​202020212022
Current assets​​​
  Cash$  20,000$  16,000$  14,000
  Accounts receivable, net28,00020,00024,000
  Inventory    22,000    30,000    28,000
Total current assets70,00066,00066,000
Plant & equipment, net    62,000    60,000    40,000
Total assets$132,000$126,000$106,000

Net credit sales for Ottoman were $126,000 for 2020, $120,000 for 2021 and $114,000 for 2022, while cost of goods sold was $84,000 for 2020, $82,400 for 2021 and $72,500 for 2022.

What is the accounts receivable turnover for 2021?
◦ 4.61 times
◦ 3.75 times
◦ 6.00 times
◦ 5.00 times
Managerial Accounting ¦ Davis ¦ 4th Edition
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Marked as best answer by hjfhdiskkjs on Feb 5, 2023

ludadtpb

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Reply #1 on: Feb 5, 2023
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hjfhdiskkjs

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Reply 2 on: Feb 5, 2023
:D TYSM

tanna.moeller

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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