Universal sports supply began the year with an accounts, Finance Basics

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Universal sports supply began the year with an accounts

Question: Universal Sports Supply began the year with an accounts receivable balance of $170,000 and a year-end balance of $190,000. Credit sales of $705,000 generate a gross profit of $235,000. Calculate the receivables turnover ratio for the year. (Round your final answer to 1 decimal place.) The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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Finance Basics: Universal sports supply began the year with an accounts

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