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XYZ Company has an accounts receivable turnover of 3.9 times and net sales of $3,436,812, calculate...

XYZ Company has an accounts receivable turnover of 3.9 times and net sales of $3,436,812, calculate the value of the accounts receivables.

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Answer #1

Account receivable turnover ratio = sales/ average account receivable

3.9 = 3436812/ average account receivable

Average account receivable = 3436812/3.9

                                                   = 881233.85

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