XYZ company had sales of $8,435,250 last year. 70% of those were on credit (the rest...
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XYZ company had sales of $8,435,250 last year. 70% of those were on credit (the rest were cash). If Account receivables are 450,000, what's the average collection period? If they reduce average collection period to 15 days what's the new account receivable number (show your work). XYZ company had sales of $8,435,250 last year. 70% of those were on credit (the rest were cash). If Account receivables are 450,000, what's the average collection period? If they reduce average collection period to 15 days what's the new account receivable number (show your work).
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Answer rating: 100% (QA)
To find the average collection period we need to first calculate the total credit sales made by the ... View the full answer
Related Book For
Principles Of Managerial Finance
ISBN: 978-0136119463
13th Edition
Authors: Lawrence J. Gitman, Chad J. Zutter
Posted Date:
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