Parker Hardware Store Had Net Credit Sales of $8,000,000 and Cost

question 120

Multiple Choice

Parker Hardware Store had net credit sales of $8,000,000 and cost of goods sold of $5,000,000 for the year.The Accounts Receivable balances at the beginning and end of the year were $600,000 and $700,000, respectively.The receivables turnover was

• A)7.7 times.
• B)4.6 times.
• C)11.4 times.
• D)12.3 times.

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