Question: Calculating the Average Collection Period Pujols Lumber Yard has a current accounts receivable balance of $387,615. Credit sales for the year just ended were $2,945,600.

Calculating the Average Collection Period Pujols Lumber Yard has a current accounts receivable balance of $387,615. Credit sales for the year just ended were $2,945,600. What is the receivables turnover? The days’ sales in receivables how long did it take on average for credit customers to pay off their accounts during the past year?

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