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Consider a manufacturing firm that has the following information about its inventor and days of operations for accounting purposes. Beginning accounts receivable on Jan 1,
Consider a manufacturing firm that has the following information about its inventor and days of operations for accounting purposes. Beginning accounts receivable on Jan 1, 2006 = $ 33675 Ending accounts receivable on Dec 31, 2006 = $ 43290 Cost of goods sold in year 2006: $ 274250 Markup = 25% Annual days of operation = 354days Its accounts receivable turnover ratio, ARTR = The average number of days it takes to convert a credit sale into cash, DSO
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