Inglewood Industries Has Net Sales of $936,600 and Average Net

question 157

Multiple Choice

Inglewood Industries has net sales of $936,600 and average net receivables of $223,000 for the year.Which of the following statements is correct? (Round all calculations to one decimal place. )

• A)The receivables turnover ratio is 4.2 and the days-to-collect is 0.01.
• B)The receivables turnover ratio is 0.2 and the days-to-collect is 1,520.
• C)The receivables turnover ratio is 4.2 and the days-to-collect is 86.9.
• D)The receivables turnover ratio is 0.2 and the days-to-collect is 87.6.

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