Question
Excerpts from Huckabee Company's December 31, 2021 and 2020, financial statements are presented below: 2021 2020 Accounts receivable $ 84,600 $ 76,000 Merchandise inventory 62,000
Excerpts from Huckabee Company's December 31, 2021 and 2020, financial statements are presented below:
| 2021 | 2020 | ||||||
| Accounts receivable | $ | 84,600 | $ | 76,000 | |||
| Merchandise inventory | 62,000 | 76,000 | |||||
| Net sales | 404,000 | 376,000 | |||||
| Cost of goods sold | 244,000 | 244,000 | |||||
Huckabee's 2021 average collection period (rounded) is:
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Answer 2021 average collection period 7256 days Explanati...
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
6th edition
1259864235, 1259864230, 1260159547, 126015954X, 978-1259864230
