16. A corporation's accounts receivable for the recent year averaged $50,000. Its credit sales were $400,000 and its cost of goods sold was $250,000. What was the corporation's receivables turnover ratio? 0.1 times 5.0 times 8.0 times nt year averaged $80,000. Its credit sales were $640,000 and its which of the following is closest to the days' sales in receivables year? 13.0 times 17. A corporation's accounts receivable for the recent year averaged $80,000. Its credit sales were $640,000 and its cost of goods sold was $400,000. On average, which of the following is closest to the days' sales in receivables (or average collection period) during the recent year? 33 days 40 days 45 days over ratios will result in the longest average collection period? 60 days or more 18. Which of the following accounts receivable turnover ratios will result in the longest average collection period? 6 times 8 times 10 times ndise with trade credit terms of 1/10, n/30. If the customer ma aid the amount owed within one week what amount should th 19. Assume that a company sold $4,500 of merchandise with trade credit terms of 1/10, n/30. If the customer made an authorized return of $500 of the goods and paid the amount owed within one week, what amount should the company receive? $3,910 $3,955 $3,960 iccounts receivable to a factor, the company will improve its orking capital? $4,000 20. Is it true or false that when a company sells its accounts receivable to a factor, the company will improve its liquidity but will not increase the amount of its working capital? True False