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Refer to the following selected financial information from Texas Electronics. Compute the company’s accounts receivable turnover for Year 2.


Year 2 Year 1
Cash $ 38,200 $ 32,950
Short-term investments 97,000 63,500
Accounts receivable, net 89,000 83,000
Merchandise inventory 124,500 128,500
Prepaid expenses 12,800 10,400
Plant assets 391,500 341,500
Accounts payable 109,900 111,300
Net sales 714,500 679,500
Cost of goods sold 393,500 378,500

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