Somen to Park Corporation Had Net Credit Sales of $5,075,000

question 229

Multiple Choice

Somen to Park Corporation had net credit sales of $5,075,000 and cost of goods sold of $3,750,000 for the year. The Accounts Receivable balances at the beginning and end of the year were $650,000 and $750,000, respectively. The accounts receivable turnover was

• A) 7.8 times.
• B) 6.8 times.
• C) 7.3 times.
• D) 5.4 times.

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Definitions:

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Family and Medical Leave Act

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Time away from work, such as for personal reasons, health, or vacation, during which an employee does not receive salary or wages.

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