Parr hardware store had net credit sales of 6500000 and, Ask an Expert

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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.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M947953

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