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Jasper Electrical Reported Net Credit Sales of $4,500,000 and Cost

Question 71

Multiple Choice

Jasper Electrical reported net credit sales of $4,500,000 and cost of goods sold of $2,700,000 for the year.The Accounts Receivable balances at the beginning and end of the year were $450,000 and $480,000, respectively.The receivables turnover ratio was


A) 5.8 times.
B) 9.4 times.
C) 9.7 times.
D) 10.0 times.

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