The following data are taken from the financial statements of Diet-Mite Company: Compute for each year (1)
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The following data are taken from the financial statements of Diet-Mite Company:
Compute for each year (1) the receivables turnover and (2) the average collection period. What conclusions about the management of accounts receivable can be drawn from these data? At the end of 1995 , accounts receivable (net) was \(\$ 490,000\).
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Related Book For 
Financial Accounting
ISBN: 9780471169208
2nd Edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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