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Refer to the following selected financial information from Texas Electronics. Compute the company's accounts receivable turnover for Year 2 Cash Short-term investments Accounts receivable,
Refer to the following selected financial information from Texas Electronics. Compute the company's accounts receivable turnover for Year 2 Cash Short-term investments Accounts receivable, net Merchandise inventory Prepaid expenses Plant assets Year 2 Year 1 $ 38,300 $ 33,050 98,000 64,000 89,500 83,500 125,000 129,000 12,900 10,500 392,000 342,000 109,400 111,800 Accounts payable Net sales 715,000 680,000 Cost of goods sold 394,000 379,000
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