Question
The financial statements of the Teal Mountain Equipment Company report net credit sales of $672000 and net accounts receivable of $70800 and $24000 at
The financial statements of the Teal Mountain Equipment Company report net credit sales of $672000 and net accounts receivable of $70800 and $24000 at the beginning of the year and the end of the year, respectively. What is the average collection period for accounts receivable in days? (Use 365 days for calculation.)
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Understanding Financial Accounting
Authors: Christopher Burnley, Robert Hoskin, Maureen Fizzell, Donald
1st Canadian Edition
1118849388, 9781119048572, 978-1118849385
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