Respuesta :
The ratio of accounts receivable turnover is 23.9 times.
Considering the values provided in the question,
Net sales = $1,400,000
Average receivable = $58,500
Accounts receivable turnover = Net sales / Average receivable
= $1,400,000 / $58,500
= 23.9
Therefore, The accounts receivable turnover ratio is 23.9 times.
The debtor turnover ratio, commonly referred to as the receivables turnover ratio or the accounts receivable turnover ratio, is a metric of effectiveness. It describes the number of times the business collected its typical accounts receivable for a certain time frame (such as a month, quarter, or year).
By analyzing how long it takes to collect the outstanding debt over the course of the accounting period, the accounts receivable turnover ratio, also known as receivables turnover, is used in business accounting to quantify how well businesses are managing the credit that they extend to their customers.
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