A company has the following information in its financial records:
| | Beginning
balance | Ending
balance | | Cash | $ 3,900 | $ 3,000 | | Marketable securities | 3,800 | 4,400 | | Accounts receivable | 14,600 | 12,900 | | Total current assets | $ 22,300 | $20,300 | | Net sales | $103,200 | | | Expenses | 20,430 | | | Net income | $ 82,770 |
|
What is the company’s receivable turnover ratio?
A. 7.5B. 8.0 C. 7.1 D. 6.0 |
