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Perez Company's Net Accounts Receivable Were $800,000 at December 31

Question 76

Multiple Choice

Perez Company's net accounts receivable were $800,000 at December 31, 2014 and $880,000 at December 31, 2015. Net cash sales for 2015 were $520,000. The accounts receivable turnover for 2015 was 8.0. What were Perez's total net sales for 2015?


A) $4,160,000.
B) $6,720,000.
C) $7,240,000.
D) $6,200,000.

Correct Answer:

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