The Accounts Receivable for Note Corporation Was $240,000 at the Beginning

Multiple Choice

The accounts receivable for Note Corporation was $240,000 at the beginning of the year and $260,000 at the end of the year. If the accounts receivable turnover for the year was 8 and 20% of the total sales were cash sales, the total sales for the year were:

A) $2,600,000
B) $2,000,000
C) $2,400,000
D) $2,500,000