Chadwick Company's sales for 2016 were $8,700,000.Its accounts receivable were $801,000 at the end of the year.During 2016,Chadwick collected $8,400,000 on its accounts receivable.The accounts receivable turnover ratio for the year was 10.5.

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The accounts receivable turnover ratio is calculated by dividing net credit sales by the average accounts receivable. Given the sales and collections, the turnover ratio should be calculated to verify if it equals 10.5.

Chadwick Company's Sales for 2016 Were $8,700,000