Parr Hardware Store Had Net Credit Sales of $5,200,000 and Cost

question 104

Multiple Choice

Parr Hardware Store had net credit sales of $5,200,000 and cost of goods sold of $4,000,000 for the year.The Accounts Receivable balances at the beginning and end of the year were $600,000 and $700,000, respectively.The accounts receivables turnover was

• A) 7.4 times.
• B) 8.7 times.
• C) 6.2 times.
• D) 8 times.