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Calculate the receivables turnover ratio

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Question - Ford Hardware Store had net credit sales of $3,920,000 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 $650,000 and $750,000, respectively. The receivables turnover ratio was

A. 6.5 times.

B. 6.0 times.

C. 5.6 times.

D. 6.2 times.

Reference no: EM132069508

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