Question: MULTIPLECHO?CEQUEST?ONS and then Answer ALL the questions. Put a circle clearly on the correct option explain your answer in the given space. I1 mark for

MULTIPLECHO?CEQUEST?ONS and then Answer ALL the questions. Put a circle clearly on the correct option explain your answer in the given space. I1 mark for identifying the correct option+3 marks for explanation) Use the following information for questions 1 and 2. In 2008 Keliso Co. had credit sales of $1,800,000 and sales returns and allowances related to these sales of $150,000. Its comparative balance sheet at December 31, 2008 showed the following: _1008- $800,000 Less: Allowance for doubtful accounts 72.000 5728.000 2007 $675,000 Accounts receivable Net realizable value 5610.000 1. Keliso's receivable turnover for 2008 is a. 2.24 b. 2.44 c. 2.47 d. 2.69 Explain

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