Toller Drug Store Had Net Credit Sales of $6,000,000 and Cost

question 22

Multiple Choice

Toller Drug Store had net credit sales of $6,000,000 and cost of goods sold of $2,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were $350,000 and $250,000, respectively. The accounts receivable turnover ratio was

• A) 17.1 times.
• B) 10.0 times.
• C) 13.3 times.
• D) 20.0 times.

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Definitions:

Urethral Groove

The groove found along the underside of the penis or within the genital area, where the urethra is positioned in certain developmental stages or conditions.

Foramen Ovale

An opening in the septum between the two atria of the heart in the fetus which normally closes shortly after birth.

Fossa Ovalis

A depression in the atrial septum of the heart, marking the location of the foramen ovale in the fetal heart.

Stress

A physical, chemical, or emotional factor that causes bodily or mental tension and may be a factor in disease causation.