ACC 226
Axia College of University of Phoenix (UoP)
Financial Accounting
Larson, K. D., Wild, J. J., & Chiappetta B. (2005). Fundamental accounting principles (17th ed.)
ACC 226 Solution
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Quick Study Questions 9-6 (QS 9-6) The following data are taken from the comparative balance sheets of Fulton Company. Compute and interpret its accounts receivable turnover for year 2005 (competitors average a turnover of 7.5).
2005 2004
Accounts receivable . . . . . . . $152,900 $133,700
Net sales . . . . . . . . . . . . . . . 754,200 810,600
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