Consider the following financial data of Eastlake Service Industries from the past year.

Gross income                           X

Total sales                                Y

Total annual credit sales Z         

Net income                               W

Cost of goods sold                   V

Total assets                              T

Average inventory value             L

Average account receivables     K

Considering the data mentioned above, which of the following is the correct expression for the receivables turnover ratio of Eastlake Service Industries? 

  • K/L

  • Y/T

  • Z/K

  • V/L

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