Eddy Corporation had net credit sales during the year of $800,000 and cost of goods sold of $500,000.

The balance in receivables 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

(c) 5.3

(b) 8.0

(d) 4.0