Question
The following data were taken from a company's latest financial statements: Annual sales $2,433,332 Cost of goods sold 2,027,778 Inventories 500,000 Accounts receivable 600,000 Accounts
The following data were taken from a company's latest financial statements:
Annual sales $2,433,332
Cost of goods sold 2,027,778
Inventories 500,000
Accounts receivable 600,000
Accounts payable 300,000
Whatis the company's average collection period?
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Financial Accounting
Authors: Robert Kemp, Jeffrey Waybright
4th edition
978-0134125053, 9780134114781, 134125053, 134114787, 978-0134436111
