Multiple Choice
Toller Drug Store had net credit sales of $6,000,000 and cost of goods sold of $2,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were $350,000 and $250,000, respectively. The accounts receivable turnover ratio was
A) 17.1 times.
B) 10.0 times.
C) 13.3 times.
D) 20.0 times.
Correct Answer:
Verified
Correct Answer:
Verified
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