LKN Company Had Net Credit Sales of $5,005,000 and Cost

question 119

Multiple Choice

LKN Company had net credit sales of $5,005,000 and cost of goods sold of $3,500,000 for the year. The Accounts Receivable balances at the beginning and end of the year were $600,000 and $700,000, respectively. The accounts receivable turnover was

• A) 8.4 times.
• B) 7.7 times.
• C) 3.9 times.
• D) 7.1 times.

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Definitions:

Continuous Training

A form of exercise that involves prolonged, steady activity without rest intervals, typically utilized to improve cardiovascular fitness.

Cathode

An electrode or conductor from which current flows out.

Electrode

A conductor through which electric current enters or leaves a non-metallic medium, such as an electrolytic cell, arc lamp, or semiconductor.

Current Flows

The movement of electric charge carriers, such as electrons, through a conductor.