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The Following Information Is from the Annual Financial Statements of Nancy

question 8

Multiple Choice

The following information is from the annual financial statements of Nancy Company.
$\begin{array} { l r r r } & 2010 & 2009 & 2008 \\\text { Net Sales } & \$ 3 0 7 , 0 0 0 & \$ 2 3 8 , 0 0 0 & \$ 2 8 5 , 0 0 0 \\\text { Accounts Receivable, net (year-end) } & 47,900 & 45,700 & 42,400\end{array}$
$The following information is from the annual financial statements of Nancy Company. \begin{array} { l r r r } & 2010 & 2009 & 2008 \\ \text { Net Sales } & \$ 3 0 7 , 0 0 0 & \$ 2 3 8 , 0 0 0 & \$ 2 8 5 , 0 0 0 \\ \text { Accounts Receivable, net (year-end) } & 47,900 & 45,700 & 42,400 \end{array} What is the accounts receivable turnover ratio for 2010? A) 6.41 B) 4.97 C) 6.72 D) 5.40 E) 6.56$
What is the accounts receivable turnover ratio for 2010?

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