Last year, Dogwood Company had net sales of $9,375,000 and cost of goods sold of $4,812,000. Dogwood
Question:
Last year, Dogwood Company had net sales of $9,375,000 and cost of goods sold of $4,812,000. Dogwood had the following balances:
Required:
Round answers to one decimal place.
1. Calculate the average accounts receivable.
2. Calculate the accounts receivable turnover ratio.
3. Calculate the accounts receivable indays.
Transcribed Image Text:
January 1 Deember 31 Accounts receivable Inventories $725,000 450,000 $775,000 425,000
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Related Book For
Cornerstones of Managerial Accounting
ISBN: 978-0324660135
3rd Edition
Authors: Mowen, Hansen, Heitger
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