Question

Your company has net sales of $468,300 and average net receivables of $111,500 for the year. Which of the following statements is correct? (Round all calculations to one decimal place.)

A) The receivables turnover ratio is 4.2 and the days-to-collect is 0.01.

B) The receivables turnover ratio is 0.2 and the days-to-collect is 1,520.

C) The receivables turnover ratio is 4.2 and the days-to-collect is 86.9.

D) The receivables turnover ratio is 0.2 and the days-to-collect is 87.6.

Answer

This answer is hidden. It contains 154 characters.