Multiple Choice
Nickel Store had net credit sales of $15,000,000 and cost of goods sold of $5,000,000 for the year.The Accounts Receivable balances at the beginning and end of the year were $875,000 and $375,000 respectively.The accounts receivable turnover ratio was:
A) 15 times.
B) 10 times.
C) 11 times.
D) 24 times.
Correct Answer:
Verified
Correct Answer:
Verified
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