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

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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

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Accounting Tools For Business Decision Making

ISBN: 9780470534786

4th Edition

Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Jun 10, 2024 01:10 AM

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

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Accounting Tools For Business Decision Making

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