Alda Ltd's Accounts Receivable for Year Ended 30 June 2019

Multiple Choice

Alda Ltd's accounts receivable for year ended 30 June 2019 was $150 000. Cost of goods sold was $382 500 and the gross margin was 15 per cent. All sales are made on credit. What was the accounts receivable turnover?

A) 2.55 times p.a.
B) 2.93 times p.a.
C) 2.8 times p.a.
D) 3 times p.a.