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Question 10: The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45. 20Y3 20Y2 20Y1 Accounts
Question 10:
The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45.
| 20Y3 | 20Y2 | 20Y1 | ||||
| Accounts receivable, end of year | $730,000 | $655,000 | $620,000 | |||
| Sales on account | 5,664,500 | 4,656,000 |
a. For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Assume a 365-day year. Do not round intermediate calculations. Round your answers to one decimal place. 1. Accounts receivable turnover 2. Number of days' sales in receivables 20Y3 days 20Y2 days
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Principles Of Cost Accounting
Authors: Edward J. Vanderbeck
15th Edition
978-0840037039, 0840037031
