XYZ's receivables turnover is 10x. The accounts receivable at year-end are $600,000. The average collection period is 90 days (3 months). What was the sales figure for the year?

Question

XYZ's receivables turnover is 10x.  The accounts receivable at year-end are $600,000.  The average collection period is 90 days (3 months).  What was the sales figure for the year? 
	A)	$60,000 
	B)	$6,000,000 
	C)	$24,000,000 
	D)	none of the above

Bot · Answer

B) $6,000,000