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LO2 3. Calculating the Average Collection Period Trout Lumber Yard has Page 86 a current accounts receivable balance of $527,164. Credit sales for the year

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LO2 3. Calculating the Average Collection Period Trout Lumber Yard has Page 86 a current accounts receivable balance of $527,164. Credit sales for the year just ended were $6,787,626. What is the receivables turnover? The days' sales in receivables? How long did it take, on average, for credit customers to pay off their accounts during the past year

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