Pine Hardware Store had net credit sales of $3,900,000 and cost of goods sold of $3,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were $600,000 and $700,000, respectively. The receivables turnover ratio was
A) 5.6 times.
B) 6.5 times.
C) 4.6 times.
D) 6 times.

Question

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The Answer of Pine Hardware Store had net credit sales of $3,900,000 and cost of goods sold of $3,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were $600,000 and $700,000, respectively. The receivables turnover ratio was
A) 5.6 times.
B) 6.5 times.
C) 4.6 times.
D) 6 times.

Pine Hardware Store Had Net Credit Sales of $3,900,000 and Cost