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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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