The current asset section of the Moorcroft Outboard Motor Company's balance sheet reported the following amounts: 12/31/202112/31/2020Accounts
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Question:
The current asset section of the Moorcroft Outboard Motor Company's balance sheet reported the following amounts:
12/31/202112/31/2020Accounts receivable, net$420,000$320,000
The average collection period for 2021 is 50 days.
Required:
Determine net sales for 2021.(Use 365 days in a year. Do not round intermediate calculations.)
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