Inglewood Industries has net sales of $936,600 and average net receivables of $223,000 for the year. Which of the following statements is correct? (Round all calculations to one decimal place.)
A. The receivables turnover ratio is 4.2 and the days-to-collect is 86.9.
B. The receivables turnover ratio is 0.2 and the days-to-collect is 87.6.
C. The receivables turnover ratio is 4.2 and the days-to-collect is 0.01.
D. The receivables turnover ratio is 0.2 and the days-to-collect is 1,520.
Answer: A
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