At the beginning of the year, Eagle Corp. had accounts recei…
At the beginning of the year, Eagle Corp. had accounts receivable of $220,000. At the end of the year, the company had accounts receivable of $340,000. During the year, Eagle Corp. had total sales of $1,000,000, 70% of which were credit sales. What was Eagle Corp.’s receivables turnover ratio for the year?
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