Excerpts from Huckabee Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts
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Question:
Excerpts from Huckabee Company's December 31, 2021 and 2020, financial statements are presented below:
2021 | 2020 | ||||||
Accounts receivable | $ | 91,000 | $ | 83,000 | |||
Merchandise inventory | 69,000 | 83,000 | |||||
Net sales | 411,000 | 383,000 | |||||
Cost of goods sold | 251,000 | 231,000 | |||||
Huckabee's 2021 receivables turnover (rounded to 2 decimal places) is:
Multiple Choice
2.89.
3.30.
4.52.
4.72.
Related Book For
Intermediate Accounting
ISBN: 978-1260481952
10th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson, Wayne Thomas
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