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Accounting

Gold Clothing Store had a balance in the Accounts Receivable account of $820,000 at the beginning of the year and a balance of $880,000 at the end of the year. Net credit sales during the year amounted to $7,650,000. The receivables turnover ratio was:

a. 9.0 times.

b. 4.5 times.

c. 8.7 times.

d. 9.3 times.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M947959

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