Multiple Choice
Alliance Software began 2016 with accounts receivable of $115,000.All sales are made on credit.Sales and cash collections from customers for the year were $780,000 and $700,000,respectively.Cost of goods sold for the year was $450,000.What was Alliance's receivables turnover ratio (rounded) for 2016?
A) 4.00.
B) 5.03.
C) 2.90.
D) 6.78.
Correct Answer:
Verified
Correct Answer:
Verified
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