Espat Corp

question 126

Multiple Choice

Espat Corp.reported net sales (all on credit) of $1,600,000 and cost of goods sold of $1,100,000 for 2016.Its beginning balance of Accounts Receivable was $150,000.The accounts receivable balance decreased by $10,000 during 2016.Rounded to two decimal places, what is Espat's accounts receivable turnover rate for 2016?

• A) 7.59
• B) 10.32
• C) 10.67
• D) 11.03

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Definitions:

Shopkeeper's Statute

refers to laws that give retail merchants or their employees the authority to detain suspected shoplifters under certain conditions.

Trespass to Land

An unauthorized physical intrusion onto someone else's property.

Unauthorized

Actions or accesses that are not permitted or approved by the rightful owner or authority.

Intrusion

A violation of someone's space or privacy without their consent.