Lasiter Corp reported net credit sales of $2,000,000 and cost of goods sold of $1,400,000 for 2016 . On January 1, 2016, accounts receivable was $250,000 . Amounts owed by customers increased by $20,000 during 2016 . Rounding to two decimal places, what is Lasiter's accounts receivable turnover rate for 2016?
a. 8.33
b. 8.00
c. 7.69
d. 7.41
c
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