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For the Year 2 and Year 1, Classic Company reported the following: Sales Accounts receivable Year 2 Year 1 $6,482,400 682,550 Assume that the
For the Year 2 and Year 1, Classic Company reported the following: Sales Accounts receivable Year 2 Year 1 $6,482,400 682,550 Assume that the accounts receivable were $565,750 at the beginning of Year 1. $6,291,870 667,950 Rosco Co. reported the following: Sales Accounts receivable Year 2 Year 1 $1,578,260 $1,675,350 164,250 171,550 Assume that accounts receivable were $200,750 at the beginning of Year 1. Accounts receivable turnover ratios Year 2 Classic 9.6 Year 1 10.2 9 Rosco 9.4 a. Compute the average accounts receivable turnover ratio for Classic Company and Rosco Co. for Year 2 and Year 1. Round to one decimal place. Classic Company: Rosco Co.: Previous
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