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The following data are taken from the financial statements of Rainsberger Company. 2015 2014 Accounts receivable (net), end of year $564,100 $525,600 Net sales on
The following data are taken from the financial statements of Rainsberger Company. 2015 2014 Accounts receivable (net), end of year $564,100 $525,600 Net sales on account 4,077,800 3,079,800 Terms for all sales are 1/10, n/60. Collapse question part (a1) Compute for each year the accounts receivable turnover. At the end of 2013, accounts receivable (net) was $462,000
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