The receivables turnover is calculated by dividing _________________ by average ___________________.
Fill in the blank(s) with the appropriate word(s).
net credit sales, gross receivables
Business
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On July 1, Darin Company sold inventory costing $5,000 to Dee Company for $6,000, terms 3/10, n/30. Both companies use a perpetual inventory system. What journal entry will be recorded by Dee Company on July 1?
A. Debit Cost of Goods Sold and credit Inventory for $4,500. B. Debit Inventory and credit Accounts Receivable for $6,000. C. Debit Purchases and credit Accounts Payable for $6,000. D. Debit Inventory and credit Accounts Payable for $6,000.
Business
A store that does not create its own traffic is a _____
a. fringe store b. low trading-area overlap store c. parasite d. primary trading area store
Business