The Following Company Information Is Available What Is the Company's Accounts Receivable Turnover Ratio? (Assume All

Multiple Choice

The following company information is available: $$\begin{array} { | l | r | } \hline \text { Average accounts receivable } & \$ 700,000 \\\hline \text { Average inventories } & 110,000 \\\hline \text { Average accounts payable } & 140,000 \\\hline \text { Net sales } & 3,000,000 \\\hline \text { Cost of goods sold } & 1,200,000 \\\hline \text { Purchases } & 1,120,000 \\\hline\end{array}$$
What is the company's accounts receivable turnover ratio? (Assume all sales are made on credit.)

A) 0.0
B) 85.1
C) 4.3
D) 1.7