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Please answer question #23 part B, SHOWING ALL WORK ACCORDINGLY. Thank you! The following data are taken from the financial statements of Cullumber Company 2022
Please answer question #23 part B, SHOWING ALL WORK ACCORDINGLY. Thank you!
The following data are taken from the financial statements of Cullumber Company 2022 2021 Accounts receivable (net), end of year $ 560,400 $ 564,000 Net sales on account 4,623,000 4,016,000 Terms for all sales are 1/10,n/45 (a) Your answer has been saved, See score details after the due date. Compute for each year the accounts receivable turnover. At the end of 2020, accounts receivable was $572,000. (Round answers to 1 decimal place, e.g. 12.5.) 2022 2021 Accounts receivable turnover 82 times 71 times Compute for each year the average collection period. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) 2022 2021 Average collection period days days Step by Step Solution
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