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QUESTION
Falcon Corp. reported net sales (all on credit) of $1,600,000 and cost of goods sold of $1,100,000 for 2010. Its beginning balance of Accounts...
Falcon Corp. reported net sales (all on credit) of $1,600,000 and cost of goods sold of $1,100,000 for 2010. Its beginning balance of Accounts Receivable was $150,000. The accounts receivable balance decreased by $10,000 during 2010. Rounded to two decimal places, what is Falcon's accounts receivable turnover rate for 2010?
