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Mein Co.'s sales totaled $300,000 for the current year. Mein's cost of goods sold was $150,000. Mein's accounts receivable balance was $20,000 on January 1

Mein Co.'s sales totaled $300,000 for the current year. Mein's cost of goods sold was $150,000. Mein's accounts receivable balance was $20,000 on January 1 and $30,000 on December 31. What was Mein's accounts receivable turnover rate for the current year?

a.

10 times.

b.

6 times.

c.

15 times.

d.

12 times.

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