XYZ's Receivables Turnover Is 4x

question 12

Multiple Choice

XYZ's receivables turnover is 4x. The accounts receivable at year-end are $600,000. The average collection period is 90 days. What was the sales figure for the year assuming all sales are on credit?

• A)$60,000
• B)$6,000,000
• C)$2,400,000
• D)None of the options

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Definitions:

Tastant

A substance that can be tasted, typically classified into five basic tastes: sweet, sour, salty, bitter, and umami.

Odorants

Chemicals that are detected by the olfactory system, leading to the perception of smell.

Pheromones

Chemical substances produced and released into the environment by animals, affecting the behavior or physiology of others of its species.

Menstrual Cycles

The regular natural change that occurs in the female reproductive system that makes pregnancy possible, typically a 28-day cycle.