Multiple Choice
Handles Corp.reported credit sales of $6,500,000 and cost of goods sold of $3,400,000 for the year.The Accounts Receivable balances at the beginning and end of the year were $525,000 and $575,000, respectively.The receivables turnover ratio was
A) 6.2 times.
B) 11.3 times.
C) 11.8 times.
D) 5.9 times.
Correct Answer:
Verified
Correct Answer:
Verified
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