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Consider the following facts: Company A had net credit sales of $8,000,000 and cost of...

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Accounting

Consider the following facts: Company A had net credit sales of $8,000,000 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:

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