In 2014, Grossfeld Company has net credit sales of $1,600,000 for the year. It had a beginning
Question:
In 2014, Grossfeld Company has net credit sales of $1,600,000 for the year.
It had a beginning accounts receivable (net) balance of $108,000 and an ending accounts receivable (net) balance of $120,000. Compute Grossfeld Company’s
(a) accounts receivable turnover and
(b) average collection period in days.
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Related Book For 
Accounting Tools For Business Decision Making
ISBN: 9781118771112
5th Edition
Authors: Kimmel, Wetlands, Kieso
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