Question
In the table below the information for four companies is provided. Company Accounts Receivable turnover Average collection period Martin 14.70 28.80 Lewis 12.80 25.65 Danforth
In the table below the information for four companies is provided.
Company | Accounts Receivable turnover | Average collection period |
Martin | 14.70 | 28.80 |
Lewis | 12.80 | 25.65 |
Danforth | 10.65 | 33.15 |
Garner | 13.30 | 27.80 |
Industry Average | 13.60 | 28.15 |
If Garner's net credit sales are $684950, what are its average net accounts receivable?
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Principles Of Managerial Finance
Authors: Lawrence J. Gitman, Chad J. Zutter
13th Edition
9780132738729, 136119468, 132738724, 978-0136119463
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