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Potaw Company reported the following data at the end of 2016:
Sales revenue (70% on credit) $370,000
Expenses (27% on credit) 67,000
Accounts receivable, net at December 31, 2016 (a decrease of $7,500 during 2016) 11,500
Total assets 270,000
Stockholders' equity 180,000
What was the accounts receivable turnover ratio?
A 24.26
B 16.98
C 31.17
D 32.17
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