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pls dont mind the space but its the continuation. With solution pls thank you!! 3. On December 31, 2020, the prepared financial statement for both
pls dont mind the space but its the continuation. With solution pls thank you!!
3. On December 31, 2020, the prepared financial statement for both comparative periods for analysis of the company. (6 points) As of December 31 2020 2019 Cash 80,000 640,000 Accounts receivable, net 400,000 1,200,000 Merchandise inventory 720,000 1,200,000 Marketable securities - short term 240,000 80,000 Land and buildings (net) 2,720,000 2,880,000 Bonds Payable - long term Accounts Payable - trade Notes Payable - short term 2,160,000 560,000 160,000 2,240,000 880,000 320,000 Net Credit Sales Cost of Good Sold For the Year Ended December 31 2020 2019 18,400,000 19,200,000 8,000,000 11,200,000 Compute the following ratios: 1. Average Accounts receivable turnover 2020 2. The gross margin rate for 2019 3. The average age of accounts receivable for 2020 (use 360 days)Step by Step Solution
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