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Question 4: Albert Ltd sells goods on cash as well as credit. The following particulars are extracted from their books of account. Total Gross sales
Question 4: Albert Ltd sells goods on cash as well as credit. The following particulars are extracted from their books of account. Total Gross sales $100,000 Cash sales (included in above) $ 20,000 Sales returns $ 7,000 Accounts Receivable $ 11,000 Accounts Payable $ 10,000 Calculate: Accounts Receivable Turnover and Average Collection period ratios.
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