On December 31 of Year 1, a company reports accounts receivable of $110,000. During Year...
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Accounting
On December 31 of Year 1, a company reports accounts receivable of $110,000. During Year 2, the company has net credit sales of $1 million. On December 31 of Year 2, the company reports accounts receivable of $140,000. What is this companys accounts receivable turnover ratio for Year 2?
A. 7.14
B. 8.00
C. 8.33
D. 9.09
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