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Brief Exercise 12-6 (Algo) Calculate receivables turnover (LO12-3) Universal Sports Supply began the year with an accounts receivable balance of $200,000 and a year-end balance

Brief Exercise 12-6 (Algo) Calculate receivables turnover (LO12-3) Universal Sports Supply began the year with an accounts receivable balance of $200,000 and a year-end balance of $220,000. Credit sales of $450,000 generate a gross profit of $150,000. Calculate the receivables turnover ratio for the year

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