7 Cash turnover. From the information set out below, calculate the cash turnover ratio and the average
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7 Cash turnover. From the information set out below, calculate the cash turnover ratio and the average cash holding in terms of days for Harry’s Bar and Restaurant for both the current and previous years:
Current year (£) Previous year (£)
Opening cash 24,663 36,498 Closing cash 22,124 24,663 Sales 1,832,766 1,888,300 Assume a 360 day year.
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