Atyear-end, Snow has cash of $12,000, current accounts receivable of $60,000, merchandise inventory of $37,200, and prepaid

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Atyear-end, Snow has cash of $12,000, current accounts receivable of $60,000, merchandise inventory of $37,200, and prepaid expenses totaling $4,400. Liabilities of $24,000 must be paid next year. Assume accounts receivable had a beginning balance of $20,000 and net credit sales for the current year totaled $2,400,000. How many days did it take Snow to collect its average level ofreceivables?

Posted Date: Jun 14, 2024 03:33 AM

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Atyear-end, Snow has cash of $12,000, current accounts receivable of $60,000, merchandise inventory of $37,200, and prepaid

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