Multiple Choice
The financial statements of the Phelps Manufacturing Company reports net sales of $500,000 and accounts receivable of $80,000 and $40,000 at the beginning of the year and end of year, respectively. What is the accounts receivable turnover for Phelps?
A) 8.3 times
B) 12.5 times
C) 6.3 times
D) 4.2 times
Correct Answer:
Verified
Correct Answer:
Verified
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