Based on the following data for the current year, what is the accounts receivable turnover?
Net sales on account during year $500,000
Cost of merchandise sold during year 300,000
Accounts receivable, beginning of year 45,000
Accounts receivable, end of year 35,000
Inventory, beginning of year 90,000
Inventory, end of year 110,000
a. 12.5
b. 11.1
c. 10.0
d. 14.3