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Question The following information was taken from

Question : Question The following information was taken from : 5456

Question

The following information was taken from Lazy O Corporation financial statements as of the end of Year 2.

Cash $ 10,000Accounts Receivable 35,000Inventory 40,000Accounts Payable 45,000Unearned Revenue 25,000Net sales 420,000Cost of goods sold 270,000

Year 1 ending balance = $25,000Year 1 ending balance = $50,000Year 1 ending balance = $39,000

Lazy O's account receivable turnover ratio is:

 

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Accounting 9 Months Ago 198 Views
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