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BlueStar Corporation reported $400,000 in sales on account plus another $60,000 in cash sales last year. Cost of goods sold for the period totaled $220,000.
BlueStar Corporation reported $400,000 in sales on account plus another $60,000 in cash sales last year. Cost of goods sold for the period totaled $220,000. The beginning balance in accounts receivable was $32,000 and the ending balance was $50,000. How much is the company's accounts receivable turnover?
A.) 9.2 times
B.) 4.8 times
C.) 8.0 times
D.) 12.5 times
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