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A company reports net credit sales for the year of $600,000. The company's accounts receivable balance at the beginning of the year equaled $30,000 and
A company reports net credit sales for the year of $600,000. The company's accounts receivable balance at the beginning of the year equaled $30,000 and the balance at the end of the year equaled $40,000. What is the receivables turnover ratio? (Round your answer to 1 decimal place.)
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