Multiple Choice
It takes The Corner Store an average of 51 days to sell its inventory and 32 days to collect its accounts receivable. The firm has sales of $568,700 and costs of goods sold of $398,800. What is the accounts receivable turnover rate?
A) 11.23
B) 11.41
C) 11.78
D) 12.23
E) 12.55
Correct Answer:
Verified
Correct Answer:
Verified
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