Trend Industries Company reported the following amounts on its 2001 and 2002 financial statements. 1. Compute the

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Trend Industries Company reported the following amounts on its 2001 and 2002 financial statements.

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1. Compute the accounts receivable turnover for 2002.
2. What is the average collection period during 2002? (Use 365 days.)

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Intermediate Accounting

ISBN: 9780324013078

14th Edition

Authors: Fred Skousen, James Stice, Earl Kay Stice

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Question Posted: May 27, 2024 03:01 AM

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Trend Industries Company reported the following amounts on its 2001 and 2002 financial statements. 1. Compute the

Question:

Accounts receivable. Allowance for bad debts Net sales Cost of sales. 2002 $ 235,000 12,000 1,430,000 1,067,000 2001 $ 210,000 8,000 1,260,000 856,000

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Intermediate Accounting

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