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Millward Corporation's books disclosed the following information for the year ended December 31, 2011:
Net credit sales .................................... $1,500,000Net cash sales ...................................... 240,000Accounts receivable at beginning of year ............ 200,000Accounts receivable at end of year .................. 400,000
Millward's accounts receivable turnover is:
a. 3.75 times.
b. 4.35 times.
c. 5.00 times.
d. 5.80 times.
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