Alliance Software Began 2016 with Accounts Receivable of $115,000

question 66

Multiple Choice

Alliance Software began 2016 with accounts receivable of $115,000.All sales are made on credit.Sales and cash collections from customers for the year were $780,000 and $700,000,respectively.Cost of goods sold for the year was $450,000.What was Alliance's receivables turnover ratio (rounded) for 2016?

• A)4.00.
• B)5.03.
• C)2.90.
• D)6.78.

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