Ask Question
14 August, 02:39

Recent financial statements of General Mills, Inc. report net sales of $12,442,000,000. Accounts receivable are $912,000,000 at the beginning of the year and $953,000,000 at the end of the year. (a1) Compute General Mills' accounts receivable turnover.

+4
Answers (1)
  1. 14 August, 03:09
    0
    13.34

    Explanation:

    In this question, we are told to compute the account receivable turnover at the end of the year.

    To calculate this, we proceed using a mathematical approach;

    mathematically;

    Accounts receivable turnover = Net Sale / (Average accounts receivable)

    From the question, we can identify that the net sale is $12,442,000,000 while the average accounts receivable which is the average of the account receivable at the start of the year and that at the beginning of the year

    = $ 12442000000 / (912000000 + 953000000) / 2

    = $ 12442000000 / 932500000

    = 13.34
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Recent financial statements of General Mills, Inc. report net sales of $12,442,000,000. Accounts receivable are $912,000,000 at the ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers