Baxter Ltd reported $200 million in credit sales in 201718 and 201819. Average accounts receivable dropped from
Question:
Baxter Ltd reported $200 million in credit sales in 2017–18 and 2018–19. Average accounts receivable dropped from $25 million to $20 million over the two periods.
Required
(a) Assuming 220 trading days each year, how has debtors turnover changed?
(b) Explain why this might have occurred.
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a Av credit sales 200 m 220 091 m Av collection period Av d...View the full answer
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