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Compute the receivables turnover ratio

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Question - Handles Corp. reported net credit sales of $6,500,000 and cost of goods sold of $3,400,000 for the year. The Accounts Receivable balances at the beginning and end of the year were $525,000 and $575,000, respectively. Compute the receivables turnover ratio?

a. 11.3 times

b. 5.9 times

c. 6.2 times

d. 11.8 times

Reference no: EM132550825

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