Deegan Industries has an accounts receivable turnover rate of 8. Which of the following statements is not true?

a) Deegan's accounts receivable are more liquid than those of a business whose accounts receivable turnover rate is 5.

b) Deegan waits approximately 46 days to make collections of its credit sales. (Use 365 days in a year.)

c) Deegan prepares off accounts receivable as uncollectible if they are over 45 days old.

d) Deegan's net credit sales are about eight times the amount of its average accounts receivable