Question
Inventory turnover is 4 times and accounts receivable turnover is 10 times. The accounts receivable balance is 15,000. How much is the value of credit sales? 15,000 1,500 150,000 1,500,000
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Answer to a math question Inventory turnover is 4 times and accounts receivable turnover is 10 times. The accounts receivable balance is 15,000. How much is the value of credit sales? 15,000 1,500 150,000 1,500,000
Gerhard
4.592 Answers
1. Use the formula for accounts receivable turnover:
\text{Accounts Receivable Turnover} = \frac{\text{Credit Sales}}{\text{Average Accounts Receivable}}
2. Substitute the given values into the rearranged equation to solve for credit sales:
\text{Credit Sales} = \text{Accounts Receivable Turnover} \times \text{Average Accounts Receivable}
3. Substitute the known values:
\text{Credit Sales} = 10 \times 15,000
4. Calculate the result:
\text{Credit Sales} = 150,000
Therefore, the value of credit sales is150,000
2. Substitute the given values into the rearranged equation to solve for credit sales:
3. Substitute the known values:
4. Calculate the result:
Therefore, the value of credit sales is
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