Leary Corporation Had Net Credit Sales During the Year of $900,000

question 122

Multiple Choice

Leary Corporation had net credit sales during the year of $900,000 and cost of goods sold of $540,000. The balance in receivables 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) 6.0
• B) 7.5
• C) 5.0
• D) 3.6