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:

Lycanthropy

A psychiatric condition in which a person believes they can transform into a wolf or that they have transformed into one, a rare delusion.

Wolves

Large carnivores belonging to the canine family, known for their social structure and roles in ecosystems as apex predators.

Psychopathology

The study of mental disorders, including their symptoms, etiology (causes), and treatment.

Mental Illness

An expansive range of conditions related to mental health, influencing emotional well-being, cognitive function, and conduct.