Use the Following Information for Questions Below
Eugene Enterprise Ltd

question 31

Multiple Choice

Use the following information for questions below
Eugene Enterprise Ltd.revealed the following information for the years ended December 31,2019 and 2020:
$\begin{array}{lrr}&2020&2019\\\hlineCurrent~ Assets&\\Cash&\$ 25,000 & \$ 26,250 \\Accounts ~Receivable&247,500 & 299,000 \\Inventory&1,950,000 & 1,725,000\\Prepaid~ expenses&\underline{4000} &\underline{4000} \\Total~ Current ~Assets&\underline{\$ 2,226,500} & \underline{\$ 2,054,250} \\Current~ Liabilities&\$ 1,400,000 & \$ 1,225,000 \\Net ~Credit~ Sales&\$ 2,400,000 & \$ 2,255,000 \\\end{array}$
Orville Enterprise's credit terms are net 30 days.
-Eugene Enterprise's A/R turnover ratio is

• A)9.70.
• B)8.78.
• C)8.03.
• D)8.52.

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Definitions:

Slave Economies

were economic systems that relied heavily on slave labor, particularly prevalent in the Americas before the abolition of slavery.

Cuba

An island nation in the Caribbean known for its significant history, including Spanish colonization, a communist revolution in 1959, and tense relations with the United States.

Brazil

The largest country in both South America and Latin America, known for its rich cultural heritage, biodiversity, and significant economic growth.

Republican Party

One of the two major contemporary political parties in the United States, also known as the GOP (Grand Old Party), founded in 1854 primarily to oppose the expansion of slavery into Western territories.