Leary Corporation Had Net Credit Sales During the Year of $1,200,000

question 33

Multiple Choice

Leary Corporation had net credit sales during the year of $1,200,000 and cost of goods sold of $720,000.The balance in accounts receivable at the beginning of the year was $120,000 and at the end of the year was $180,000.What was the accounts receivable turnover?

• A)8.0
• B)10.0
• C)6.7
• D)4.8

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Definitions:

Hematopoiesis

The biological process by which new blood cells are formed and developed from stem cells in the bone marrow.

Cytokine

A nonantibody protein of the immune system that regulates immune response.

Herpes Simplex

The medical term for fever blister, an acute viral infection of the face, mouth, or nose.

IgG

Immunoglobulin G, a type of antibody that is the most abundant in the body, playing a crucial role in the immune response by identifying and neutralizing pathogens such as viruses and bacteria.