Multiple Choice
XYZ's receivables turnover is 4x. The accounts receivable at year-end are $600,000. The average collection period is 90 days. What was the sales figure for the year assuming all sales are on credit?
A) $60,000
B) $6,000,000
C) $2,400,000
D) $54,000,000
Correct Answer:
Verified
Correct Answer:
Verified
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