Fess Hardware Store Had Net Credit Sales of $8500000 and Cost

question 18

Multiple Choice

Fess Hardware Store had net credit sales of $8500000 and cost of goods sold of $5000000 for the year. The Accounts Receivable balances at the beginning and end of the year were $600000 and $760000 respectively. The accounts receivable turnover was

• A) 7.4 times.
• B) 5.9 times.
• C) 11.2 times.
• D) 12.5 times.

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