A company has a receivables turnover ratio of 12. The average gross accounts receivable during the period is $360,000. What is the amount of credit sales for the period? O a. $432,000 O b. $3,000,000 O c. $4,320,000 O d. Cannot be determined from the information given.

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is