On December 31 of Year 1, a company reports accounts receivable of $110,000. During Year...

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Accounting

On December 31 of Year 1, a company reports accounts receivable of $110,000. During Year 2, the company has net credit sales of $1 million. On December 31 of Year 2, the company reports accounts receivable of $140,000. What is this companys accounts receivable turnover ratio for Year 2?

A. 7.14

B. 8.00

C. 8.33

D. 9.09

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