Assuming a 365-day year, bush industries calculated an average of 47 days to collect its accounts receivable in 2019. during 2018, bush's accounts receivable turnover rate: select one: a. was approximately 7.77. b. was equal to 47 times its average accounts receivable. c. was approximately 0.13. d. can't be determined from this information alone.

The answer is: A) Was approximately 7.77

Explanation:

A company's Accounts Receivable turnover rate refers to the number of times per year that a company collects its accounts receivable. It is calculated using the following formula:

turnover rate = 365 days / average time to collect accounts receivable

turnover rate = 365 days / 47 days = 7.77

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