Allatoona Landing Reported Net Credit Sales of $1,250,000 and Cost

question 49

Multiple Choice

Allatoona Landing reported net credit sales of $1,250,000 and cost of goods sold of $900,000 for 2013. Its beginning balance of Accounts Receivable was $175,000. The accounts receivable balance decreased by $25,000 during 2013. Rounded to two decimal places, what is the company's accounts receivable turnover rate for 2013?

• A)7.14
• B)7.69
• C)8.33
• D)11.03

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Yearly Average

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