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Question 9 A recent annual report for C&L Co. contained the following data: 2019 2018 Trade receivables $1,798 $1,666 Less: Allowance for Doubtful Accounts 12

Question 9

A recent annual report for C&L Co. contained the following data:

2019

2018

Trade receivables

$1,798

$1,666

Less: Allowance for Doubtful Accounts

12

10

Net trade receivables

1,786

1,656

Net sales (assume all are on credit)

$19,805

1. Calculate the receivables turnover ratio and average collection period for both years: a. Receivables turnover b. Average collection period 2. What do these results indicate?

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