Consider the following: Of the total sales, 70% are on account. Compute the days to collect accounts
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Of the total sales, 70% are on account.
Compute the days to collect accounts receivable for the years 20X2 and 20X3. Comment on theresults.
Transcribed Image Text:
20X2 $2,000,000 $2,500,000 $2,400,000 December 31 20X2 $170,000 190,000$180,000 20X3 20X1 Sales 20X3 20X1 Accounts receivable
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Related Book For
Introduction to Financial Accounting
ISBN: 978-0133251036
11th edition
Authors: Charles Horngren, Gary Sundem, John Elliott, Donna Philbrick
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