If a firm has annual sales of $1,000,000, a gross profit margin of 20% and an average investment in accounts receivable of $100,000, the firm's receivables turnover is eight times per year.

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The Answer of If a firm has annual sales of $1,000,000, a gross profit margin of 20% and an average investment in accounts receivable of $100,000, the firm's receivables turnover is eight times per year.

If a Firm Has Annual Sales of $1,000,000, a Gross