Parr Hardware Store had net credit sales of $6,500,000 and cost of goods sold of $5,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were $600,000 and $700,000, respectively. The receivables turnover was:
a. 7.7 times.
b. 10.8 times.
c. 9.3 times.
d. 10 times.