Bill's Dollar Store Had a Balance in the Accounts Receivable

question 119

Multiple Choice

Bill's Dollar Store had a balance in the Accounts Receivable account of $760,000 at the beginning of the year and a balance of $840,000 at the end of the year.Net credit sales during the year amounted to $6,400,000.The accounts receivable turnover was

• A)7.6 times.
• B)8.4 times.
• C)8.0 times.
• D)4.0 times.

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Definitions:

Reciprocity

A mutual exchange of privileges or interactions between parties, often seen as a foundational principle in social relationships.

Dispositional Attributions

The tendency to attribute someone's behavior to their personal characteristics, rather than to situational factors.

Championing

Actively supporting or defending a cause, idea, or person.

Propinquity

The physical or psychological proximity between people, which can influence attraction and relationship formation.