Gold Clothing Store had a balance in the Accounts Receivable account of ₤920,000 at the beginning of the year and a balance of ₤980,000 at the end of the year. Net credit sales during the year amounted to ₤7,600,000. The accounts receivable turnover ratio was
A) 8.0 times.
B) 8.4 times.
C) 7.8 times.
D) 8.3 times.
Correct Answer:
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