Barneys Antique Shop has annual credit sales of $1,620,000 and an accounts receivable balance of $157,500. Calculate

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Barney’s Antique Shop has annual credit sales of $1,620,000 and an accounts receivable balance of $157,500. Calculate the average collection period (use 360 days in a year).

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Foundations of Financial Management

ISBN: 978-1259194078

15th edition

Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen

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