Question
VaughnStore had a balance in the Accounts Receivable account of $750000 at the beginning of the year and a balance of $850000 at the end
VaughnStore had a balance in the Accounts Receivable account of $750000 at the beginning of the year and a balance of $850000 at the end of the year. Net credit sales during the year amounted to $6400000. The accounts receivable turnover was A. 7.6 times. B. 8.5 times. C. 8.0 times. D. 4.0 times.
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Fundamentals of Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
11th edition
77861701, 978-0077861704
