Perfect Purchase Electronics

Selected Income Statement Items, 200X

Cash Sales $1,500,000

Credit Sales $7,500,000

Total Sales $9,000,000

COGS $6,000,000

Perfect Purchase Electronics

Selected Balance Sheet Accounts

12/31/2009 12/31/2008 Change

Accounts Receivable $270,000 $240,000 $30,000

Inventory $125,000 $100,000 $25,000

Accounts Payable $110,000 $90,000 $20,000

Using the information provided, what is the accounts receivable turnover for the firm?

		A. 60.00 times
		B. 23.53 times
		C. 53.33 times
		D. 29.41 times