Allatoona Landing Reported Net Credit Sales of $1,250,000 and Cost

question 62

Multiple Choice

Allatoona Landing reported net credit sales of $1,250,000 and cost of goods sold of $900,000 during the current year. Its beginning balance of Accounts Receivable was $175,000. The accounts receivable balance decreased by $25,000 during the year. Rounded to two decimal places, what is the company's accounts receivable turnover rate for the current year?

• A)7.14
• B)7.69
• C)8.33
• D)11.03

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Definitions:

Conditioned Stimulus

A previously neutral stimulus that, after association with an unconditioned stimulus, comes to trigger a conditioned response.

Learning Theories

Frameworks that describe how information is absorbed, processed, and retained during the learning process.

Behaviorism

Learning theory that emphasizes the predictable role of environment in causing observable behavior.

Social Learning Theory

A theory that suggests individuals learn behaviors and norms through observation, imitation, and modeling from others within a social context.