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Mifflin Company reported the following for the current year: Net sales $ 76,480 Cost of goods sold 51,000 Beginning balance in accounts receivable 16,600 Ending
Mifflin Company reported the following for the current year: Net sales $ 76,480 Cost of goods sold 51,000 Beginning balance in accounts receivable 16,600 Ending balance in accounts receivable 7,300 Compute (a) accounts receivable turnover and (b) days sales uncollected. Hint: Accounts receivable turnover uses average accounts receivable, and days sales uncollected uses the ending balance in accounts receivable.
Complete this question by entering your answers in the tabs below. Compute the accounts receivable turnover. Complete this question by entering your answers in the tabs below. Compute the days' sales uncollectedStep by Step Solution
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