Multiple Choice
The Rye Corporation has provided the following information: • Total sales were $1,200,000.
• Beginning net accounts receivable was $45,000.
• Ending net accounts receivable was $65,000.
• Sales returns and allowances totaled $100,000.
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What was Rye's receivables turnover ratio?
A) 21.8
B) 18.5
C) 10.0
D) 20.0
Correct Answer:
Verified
Correct Answer:
Verified
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