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There were $620,000 in total sales, $582,000 in net sales, and $97,000 on average in accounts receivable for one business. it has a 6.0 accounts receivable turnover.
Accounts receivables Turnover ratio
Net Credit Sales/Average Receivable=Accounts receivables Turnover ratio
$ 582,000/ $ 97,000 = 6.00 Times
Accounts receivable (AR) is the remaining amount owed to a business for goods or services that have been delivered or consumed but have not yet accounts receivable been paid for by clients. The balance sheet classifies accounts receivable as a current asset. Customers' unpaid debt for goods they made with credit is referred to as AR.
The term "accounts receivable" refers to any unpaid bills or cash that a business is owed by customers. The word refers to accounts that a accounts receivable company is entitled to get as a result of delivering a good or service. Accounts receivable, also known as receivables, are a type of line of credit that a business extends to its customers, and its terms typically call for payments to be made within a short time frame.
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