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During 2017, Victory Inc. had beginning accounts receivable of $42,000 and ending accounts receivable of $48,000. Its net sales of $450,000 are composed of 20%
During 2017, Victory Inc. had beginning accounts receivable of $42,000 and ending accounts receivable of $48,000. Its net sales of $450,000 are composed of 20% cash sales and 80% credit sales. Based on this information, what is Victorys receivables turnover ratio?
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7.5 times
8.0 times
10.0 times
2.0 times
None of the answer choices is correct.
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