Question

In 2014, Grossfeld Company has net credit sales of $1,600,000 for the year. It had a beginning accounts receivable (net) balance of $108,000 and an ending accounts receivable (net) balance of $120,000. Compute Grossfeld Company’s
(a) Accounts receivable turnover and
(b) Average collection period in days.



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  • CreatedApril 07, 2014
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