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Larrys Lawn Equipment Company gives terms of 2/10, n/30. Larry has annual credit sales of $500,000 and average accounts receivable of $60,000. a. What is

Larrys Lawn Equipment Company gives terms of 2/10, n/30. Larry has annual credit sales of $500,000 and average accounts receivable of $60,000.

a. What is Larrys accounts receivable turnover?

b. What is Larrys average daily collection?

c. What is the relationship between the terms that Larry is giving and his average daily collection?

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