Your Company Has Net Sales of $468,300 and Average Net

Multiple Choice

Your company has net sales of $468,300 and average net receivables of $111,500 for the year.Which of the following statements is correct? (Round all calculations to one decimal place.)

A) The receivables turnover ratio is 4.2 and the days-to-collect is 0.01.
B) The receivables turnover ratio is 0.2 and the days-to-collect is 1,520.
C) The receivables turnover ratio is 4.2 and the days-to-collect is 86.9.
D) The receivables turnover ratio is 0.2 and the days-to-collect is 87.6.