Answer:
94.88 times
Explanation:
Accounts receivable turnover is computed as;
= Net credit sales / Average account receivables
Where average accounts receivables = Opening account receivable + closing account receivable / 2
• Year 2 accounts receivable turnover
Net credit sales = $34,124,961
Average accounts receivable = $719,365/2
= $359,682.5
= $34,124,961 / $359,682.5
= 94.88 times
Therefore, the accounts receivable turnover for year 2 is 94.88 times
