Question
Mongo Bongo sells $7,500 of its bongos on credit on a daily basis. Because Mongo Bongo deals with beatniks, it takes 75 days to collect
Mongo Bongo sells $7,500 of its bongos on credit on a daily basis. Because Mongo Bongo deals with beatniks, it takes 75 days to collect its A/R.
(1a) What is the average A/R that is reported on Mongos balance sheet?
(1b) What is Mongo Bongos A/R turnover (using a 360 day year)?
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Financial Literacy And Money Script A Caribbean Perspective
Authors: Christine Sahadeo
1st Edition
3319770748, 978-3319770741
