Moore Corporation had net credit sales during the year of $800,000 and cost of goods sold of

Question:

Moore Corporation had net credit sales during the year of $800,000 and cost of goods sold of $500,000. The balance in receiv- ables at the beginning of the year was $100,000 and at the end of the year was $150,000. What was the receivables turnover ratio?

(a) 6.4

(b) 8.0

(c) 5.3

(d) 4.0

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