Question: Please explain the solution to this general accounting problem with accurate principles. Steinkraus Corporation has provided the following data: This Year | Last Year Accounts

Please explain the solution to this general accounting problem with accurate principles.

Steinkraus Corporation has provided the following data: This Year | Last Year Accounts receivable | $104,000] $115,000 Inventory $195,000 | $174,000 Sales on account $886,000 Cost of goods sold | $622,000 Compute the accounts receivable turnover for this year

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