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A company reports net credit sales for the year of $348,000. The company's accounts receivable balance at the beginning of the year equaled $37,000 and

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A company reports net credit sales for the year of $348,000. The company's accounts receivable balance at the beginning of the year equaled $37,000 and the balance at the end of the year equaled $47,000. What is the receivables turnover ratio? (Round your answer to 1 decimal place.) Multiple Choice 9.4 1.3 8.3 7.4

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