Bria 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 receivables turnover ratio was

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The receivables turnover ratio is calculated as Net Credit Sales divided by Average Accounts Receivable. The average accounts receivable is ($920,000 + $980,000) / 2 = $950,000. Therefore, the turnover ratio is $7,600,000 / $950,000 = 8.0 times.

Bria Clothing Store Had a Balance in the Accounts Receivable