Based on the Following Data for the Current Year, Determine $\$ 550,000$

question 38

Multiple Choice

Based on the following data for the current year, determine the accounts receivable turnover. ? Net sales on account during the year Cost of merchandise sold during the year Accounts receivable, beginning of year Accounts receivable, end of year Inventory, beginning of year Inventory, end of year
$\$ 550,000$
350,000
35,000
25,000
80,000
125,000

• A) 9.2
• B) 11.7
• C) 18.3
• D) 7.5

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