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Average Accounts Receivable, Accounts Receivable Turnover Ratio, Accounts Receivable Turnover in Days Montalcino Company had net sales of $350,000. Montalcino had the following balances: January
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Average Accounts Receivable, Accounts Receivable Turnover Ratio, Accounts Receivable Turnover in Days
Montalcino Company had net sales of $350,000. Montalcino had the following balances:
January 1 December 31 Accounts receivable $82,400 $57,600 Inventories 117,000 108,000
Required:
Assume 365 days per year.
1. Calculate the average accounts receivable. $
2. Calculate the accounts receivable turnover ratio. Round to one decimal place. times
3. Calculate the accounts receivable turnover in days. Round to one decimal place. days
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Average Accounts Receivable, Accounts Receivable Turnover Ratio, Accounts Receivable Turnover in Days
Montalcino Company had net sales of $350,000. Montalcino had the following balances:
| January 1 | December 31 | |
| Accounts receivable | $82,400 | $57,600 |
| Inventories | 117,000 | 108,000 |
Required:
Assume 365 days per year.
1. Calculate the average accounts receivable. $
2. Calculate the accounts receivable turnover ratio. Round to one decimal place. times
3. Calculate the accounts receivable turnover in days. Round to one decimal place. days
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