Using the following select financial statement information from Mover Supply Depot, compute the accounts receivable turnover ratios
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Using the following select financial statement information from Mover Supply Depot, compute the accounts receivable turnover ratios for 2018 and 2019 (round answers to two decimal places). What do the outcomes tell a potential investor about Mover Supply Depot if the industry average is 4 times?
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Year 2017 2018 2019 MOVER SUPPLY DEPOT Net Credit Sales $1,230,680 1,477,440 1,724,400 Ending Accounts Receivable $321,500 345,700 326,600
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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