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Part A Mickey Company reported the following figures: Net Credit Sales Account receivables at end of year 2021 RM572,000 RM38,700 2020 RM600,000 RM46,100 Required: 1)

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Part A Mickey Company reported the following figures: Net Credit Sales Account receivables at end of year 2021 RM572,000 RM38,700 2020 RM600,000 RM46,100 Required: 1) Compute Mickey's collection period of receivables for 2021. (Round to the nearest day) (5 marks) 2) Suppose Mickey's normal credit terms for a sale on account are 2/10, n 30". How well does Mickey's collection period compare to the company's credit terms? Is this good or bad for Mickey Company

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