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A company began the year with an Accounts Receivable balance of $230,000, and had a year-end balance of $260,000. Credit sales of $860,000 generated a

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A company began the year with an Accounts Receivable balance of $230,000, and had a year-end balance of $260,000. Credit sales of $860,000 generated a gross profit of $160,000. Calculate the receivables turnover ratio for the year. (Round your answer to 1 decimal place.) Receivables turnover ratio times

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