Multiple Choice
During 2017,Victory Inc.had beginning accounts receivable of $42,000 and ending accounts receivable of $48,000.Its net sales of $450,000 are composed of 20% cash sales and 80% credit sales.Based on this information,what is Victory's receivables turnover ratio?
A) 7.5 times
B) 8.0 times
C) 10.0 times
D) 2.0 times
E) None of the answer choices is correct.
Correct Answer:
Verified
Correct Answer:
Verified
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