Write a user-defined function that calculates the average collection period with two arguments: accounts receivable and annual
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Now, write another version of the function that accepts an optional third argument that indicates whether to use 360 or 365 days in a year. This third argument should default to using a 360-day year. The second function should return an error value (look up CVErr in the help) if the user specifies any number other than 360 or 365 days per year.
Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Related Book For
Financial Analysis with Microsoft Excel
ISBN: 978-1285432274
7th edition
Authors: Timothy R. Mayes, Todd M. Shank
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