Multiple Choice
Phillips Company had $300,000 in sales on account last year.The beginning accounts receivable balance was $25,000 and the ending accounts receivable balance was $18,000.The company's accounts receivable turnover ratio was closest to
A) 16.67.
B) 12.00.
C) 3.85.
D) 13.95.
Correct Answer:
Verified
Correct Answer:
Verified
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