Asked by Sheree Aulerio on May 07, 2024
Verified
Forman and Brasso Furniture Company had accounts receivable of $126,200 and net sales of $248,800. Compute the ratio of accounts receivable to net sales. (Round answer to two decimal places.)
Accounts Receivable
Money owed to a company by its customers for goods or services that have been delivered or used but not yet paid for.
Net Sales
The amount of sales revenue remaining after deducting returns, allowances for damaged or missing goods, and discounts.
- Ascertain the relationship between accounts receivable and net sales through calculation.
Verified Answer
SS
Learning Objectives
- Ascertain the relationship between accounts receivable and net sales through calculation.
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