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Assume that the following data applies to Jedson, Inc.for the fiscal year ending December 31, 2017: Total sales = $16,033,700 Debt ratio = 46% Average

Assume that the following data applies to Jedson, Inc.for the fiscal year ending December 31, 2017:

  • Total sales = $16,033,700
  • Debt ratio = 46%
  • Average collection period for 2017 = 79 days
  • Cash sales = 32.8% of total sales; all other sales are on credit (there is NO bad debt)
  • Sales and expenses are evenly divided throughout the year (assume a 360 day year)
  • ROA = 16.5%
  • ROE = 35.8%

What did Jedson report as accounts receivable on its December 31, 2017 balance sheet?

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