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HELP PLEASE! Accounting problem solve The following data are taken from the financial statements of Phacoab Company. 2017 2016 Accounts receivable (net), end of year
HELP PLEASE!
Accounting problem solve The following data are taken from the financial statements of Phacoab Company. 2017 2016 Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 577,400 607,500 4,544,000 3,912,000 Compute for each year the accounts receivable turnover. At the end of 2015, accounts receivable was $575,500. (Round answers to 1 decimal place, e.g. 12.5.) 2017 2016 Accounts receivable turnover times times Compute for each year the average collection period. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation) 2017 2016 Average collection period days daysStep by Step Solution
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