Question

Net Sales = 40,00,000 (20 % GP Element) out of which 40% is on credit. Opening Receivables & closing receivables are 120,000 & 3,40,000 respectively. Calculate the receivables turnover ratio of the company.

A 6.92 times
B 10.43 times
C 17.39 times
D 4.71 times
E 8.62 times
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