Alliance Software began 2021 with accounts receivable of $115,000. All sales are made on credit. Sales and cash collections from customers for the year were $780,000 and $700,000, respectively. Cost of goods sold for the year was $450,000. What was Alliance's receivables turnover ratio (rounded) for 2021?
A. 5.03.
B. 2.90.
C. 6.78.
D. 4.00.
A. 5.03.
Business
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