Swiss Clothing Store Had a Balance in the Accounts Receivable

question 34

Multiple Choice

Swiss Clothing Store had a balance in the Accounts Receivable account of $820000 at the beginning of the year and a balance of $780000 at the end of the year. Net credit sales during the year amounted to $7200000. The accounts receivable turnover ratio was

• A) 9.0 times.
• B) 8.4 times.
• C) 9.2 times.
• D) 8.8 times.

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Definitions:

Sleepwalking

A sleep disorder causing people to get up and walk while remaining in a state of sleep, often with no memory of the activity.

N1 Sleep

The initial stage of sleep in the sleep cycle, characterized by light sleep where one can be easily awakened.

N2 Sleep

A stage of sleep characterized by the presence of sleep spindles and K-complexes, representing a deeper sleep phase than N1 and preceding the deeper N3 stage of non-REM sleep.

N3 Sleep

N3 sleep, also known as deep sleep or slow-wave sleep, is the third stage of non-REM sleep, characterized by the deepest level of sleep and the hardest from which to awaken.