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What the receivables turnover was

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Question 1: Clover Hardware Store had a net credit sales of P6,500,000 and cost of goods sold of P5,000,000 for the year. The Accounts receivables balances at the beginning and end of the year were P600,000 and P700,000, respectively. The receivables turnover was

a. 7.7 times

b. 10.8 times

c. 9.3 times

d. 10.0 times

Reference no: EM132497955

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