Question
a. Accounts receivable arising from sales to customers amounted to $95,000 and $85,000 at the beginning and end of the year, respectively. Income reported on
a. Accounts receivable arising from sales to customers amounted to $95,000 and $85,000 at the beginning and end of the year, respectively. Income reported on the income statement for the year was $310,000. Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is:
b. A project with an initial investment of $90,000 and a profitability index of 1.510 also has an internal rate of return of 10%. The present value of net cash flows is:
c. If the average collection period is 60 days, what is the accounts receivable turnover?
Please show all work in detail including equations used. Thanks!
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