Receipts, inc.'s sales were $200,000 while its accounts receivable was $23,000 at the beginning of the year and $27,000 at the end. all sales were credit sales. receipts' receivables turnover equals:

Customers' outstanding debts for products or services they have received but haven't yet paid for are referred to as accounts receivable.
For instance, the amount owing when clients buy things on credit is added to the accounts receivable. It is a debt incurred as a result of a commercial transaction.

What is a journal entry for accounts receivable?

Accounts receivable is a term used to describe an account set up by a company to record the journal entries pertaining to the credit sales of its products and services.
The company creates account receivables to handle these credit sales transactions.

To learn more about Accounts receivable, Click the links.

https://brainly.com/question/24261944

https://brainly.com/question/13166196

#SPJ4

Correct Question- Recipes, Inc. had Sales of $120,000 and Cost of goods sold of $80,000 for the year. All sales were credit sales. Accounts receivable was $10,000 at the beginning of the year and $14,000 at the end. Inventory was $18,000 at the beginning of the year and $22,000 at the end. Recipes' accounts receivables turnover equals:

8.6

12.0

6.7

4.0