Charmed, Inc. has a beginning Accounts Receivable balance of $63,000 and an ending Accounts Receivable balance of $58,000. Sales are $251,000. What is Charmed, Inc.'s Accounts Receivable turnover rate? (Round your final answer to two decimal places.)

A) 3.98
B) 4.33
C) 4.15
D) 2.07


C) 4.15
Explanation: sales/[(beginning + ending A/R)/2]; ex: $251,000 / [($63,000 + $58,000) / 2] = 4.15

Business

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