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The financial statements of Clark & Powell report net credit sales of $2 million. Accounts receivable are $270,000 at the beginning of the year and

The financial statements of Clark & Powell report net credit sales of $2 million. Accounts receivable are $270,000 at the beginning of the year and $280,000 at the end of the year.

  1. Calculate Clark & Powells accounts receivable turnover
  2. Calculate Clark & Powells collection period for accounts receivable in days.

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