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Assuming a 365 day year, Gore Industries calculated an average of 53 days to collect its accounts receivable in 2015. During 2015, Gore's accounts receivable
Assuming a 365 day year, Gore Industries calculated an average of 53 days to collect its accounts receivable in 2015. During 2015, Gore's accounts receivable turnover rate:
A.Was approximately 6.89.B. Was equal to 53 times its average accounts receivable.C. Was approximately 0.15.D. Can't be determined from this information alone.
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