Inglewood Industries Has Net Sales of $936,600 and Average Net

Multiple Choice

Inglewood Industries has net sales of $936,600 and average net receivables of $223,000 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.