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The following information is available for Concord Company: 2020 2019 Accounts receivable (net) $ 420000 $ 500000 Inventory 340000 350000 Net credit sales 1978000 1650000

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The following information is available for Concord Company: 2020 2019 Accounts receivable (net) $ 420000 $ 500000 Inventory 340000 350000 Net credit sales 1978000 1650000 Cost of goods sold 1850000 1010000 Net income 290000 220000 The accounts receivable turnover ratio for 2020 is O 1.1 times. O 4.7 times. O 4.3 times. O 4.0 times

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