Parr Hardware Store had net credit sales of $6,500,000 and cost of goods sold of $5,000,000 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 was
A) 7.7 times.
B) 10.8 times.
C) 9.3 times.
D) 10 times.

Question

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The Answer of Parr Hardware Store had net credit sales of $6,500,000 and cost of goods sold of $5,000,000 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 was
A) 7.7 times.
B) 10.8 times.
C) 9.3 times.
D) 10 times.

Parr Hardware Store Had Net Credit Sales of $6,500,000 and Cost