A company reports the following: Net sales ...........................................$3,150,000 Average accounts receivable (net) ..... 210,000 Determine (a) The
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A company reports the following:
Net sales ...........................................$3,150,000
Average accounts receivable (net) ..... 210,000
Determine
(a) The accounts receivable turnover and
(b) The number of days’ sales in receivables. Round to one decimal place.
Accounts ReceivableAccounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Related Book For
Financial And Managerial Accounting
ISBN: 9781337119207
14th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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