Spanzer Clothing Store Had a Balance in the Accounts Receivable

Multiple Choice

Spanzer Clothing Store had a balance in the Accounts Receivable account of $780,000 at the beginning of the year and a balance of $820,000 at the end of the year. Net credit sales during the year amounted to $5,440,000. The receivable turnover ratio was:

A) 6.6 times.
B) 6.8 times.
C) 7.2 times.
D) 7 times.