Somen to Park Corporation Had Net Credit Sales of $5,075,000

question 229

Multiple Choice

Somen to Park Corporation had net credit sales of $5,075,000 and cost of goods sold of $3,750,000 for the year. The Accounts Receivable balances at the beginning and end of the year were $650,000 and $750,000, respectively. The accounts receivable turnover was

• A) 7.8 times.
• B) 6.8 times.
• C) 7.3 times.
• D) 5.4 times.

---

Definitions:

Copyright Law

A legal framework that gives the creator of original work exclusive rights to its use and distribution.

Republish

The act of publishing again or releasing previously published content to a new audience or in a new format.

Symbolic Meanings

The representation of ideas, concepts, or objects through symbols that convey deeper and hidden meanings beyond their literal sense.

Dark Colors

Shades that have a low lightness, often used to convey depth, sophistication, or a somber mood.