Multiple Choice
LKN Company had net credit sales of $5,005,000 and cost of goods sold of $3,500,000 for the year. The Accounts Receivable balances at the beginning and end of the year were $600,000 and $700,000, respectively. The accounts receivable turnover was
A) 8.4 times.
B) 7.7 times.
C) 3.9 times.
D) 7.1 times.
Correct Answer:
Verified
Correct Answer:
Verified
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