Using the following data, calculate this companyâs accounts receivable turnover.
Accounts receivable balance, December 31 . . . . . . . . . . . . . . . . . . . . . . . . . . $ 54,000
Inventory balance, December 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59,000
Sales revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 520,000
Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 310,000
Accounts receivable balance, January 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46,000
Accounts receivable balance, December 31 . . . . . . . . . . . . . . . . . . . . . . . . . . $ 54,000
Inventory balance, December 31 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 59,000
Sales revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 520,000
Cost of goods sold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . 310,000
Accounts receivable balance, January 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46,000
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