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November 21, 2014

Homework Help: accounting

Posted by bobbie on Wednesday, April 14, 2010 at 3:14pm.

Exercise 9-13: Accounts receivable turnover L.O. A1

The following information is from the annual financial statements of Lucilla Company.




2009
2008
2007

Net Sales
$
262,000
$
193,000
$
245,000

Accounts Receivable, net (year-end)

42,700

40,500

37,200


--------------------------------------------------------------------------------

Required:

Compute its accounts receivable turnover for 2008 and 2009. (Round your answers to one decimal place.)



Year 2008 accounts receivable turnover :



Year 2009 accounts receivable turnover :

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