A company has sales of ($ 3,680,000) per year. Its average net accounts receivable balance is ($

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A company has sales of $\$ 3,680,000$ per year. Its average net accounts receivable balance is $\$ 920,000$.

a. What is the average number of days accounts receivable are outstanding?

b. By how much would the capital invested in accounts receivable be reduced if the turnover could be increased to 6 without a loss of sales?

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Financial Accounting A Business Perspective

ISBN: 9780072289985

7th Edition

Authors: Roger H. Hermanson, James Don Edwards

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Question Posted: Jun 16, 2024 04:31 AM

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A company has sales of ($ 3,680,000) per year. Its average net accounts receivable balance is ($

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Financial Accounting A Business Perspective

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