XYZ's receivables turnover is 10x. The accounts receivable at year-end are $600,000. The average collection period is 90 days (3 months). What was the sales figure for the year?

A) $60,000
B) $6,000,000
C) $24,000,000
D) none of the above

B) $6,000,000

To calculate the sales figure for the year, we can use the formula for accounts receivable turnover:

Receivables Turnover = Net Credit Sales / Average Accounts Receivable

Given that the receivables turnover is 10x and the average collection period is 90 days, we can calculate the average accounts receivable:

Average Accounts Receivable = Accounts Receivable / Receivables Turnover

Average Accounts Receivable = $600,000 / 10 = $60,000

Now, to find the net credit sales, we can rearrange the formula:

Net Credit Sales = Receivables Turnover * Average Accounts Receivable

Net Credit Sales = 10 * $60,000 = $600,000

Therefore, the sales figure for the year is B) $6,000,000.

To find the sales figure for the year, we can use the formula:

Sales = Receivables Turnover * Average Accounts Receivable

First, let's calculate the average accounts receivable. Since the average collection period is given in days, we need to convert it to months:

Average Collection Period (in months) = Average Collection Period (in days) / Number of Days in a Month

Average Collection Period = 90 days / 30 days (assuming 30 days in a month) = 3 months

Next, let's calculate the average accounts receivable:

Average Accounts Receivable = Accounts Receivable at Year-End / Average Collection Period

Average Accounts Receivable = $600,000 / 3 = $200,000

Now, let's calculate the sales figure using the receivables turnover:

Sales = Receivables Turnover * Average Accounts Receivable
= 10 * $200,000
= $2,000,000

So, the sales figure for the year was $2,000,000.

Therefore, the answer is D) none of the above.