In 2022, Wainwright Company has net credit sales of $1,300,000 for the year. It had a beginning
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In 2022, Wainwright Company has net credit sales of $1,300,000 for the year. It had a beginning accounts receivable (net) balance of $101,000 and an ending accounts receivable (net) balance of $107,000. Compute Wainwright Company's
(a) Accounts receivable turnover and
(b) Average collection period in days.
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Related Book For
Accounting Principles
ISBN: 9781119707110
14th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
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