Hoffman Corporation sells its goods on terms of 2/10, n/30. It has a receivables. turnover ratio of

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Hoffman Corporation sells its goods on terms of 2/10, n/30. It has a receivables. turnover ratio of 7. What is its average collec- tion period (days)?

(a) 2,555

(b) 30

(c) 52

(d) 210

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Financial Accounting Tools For Business Decision Making

ISBN: 9780471169192

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Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Hoffman Corporation sells its goods on terms of 2/10, n/30. It has a receivables. turnover ratio of

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Financial Accounting Tools For Business Decision Making

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