Silver Clothiers reported the following selected items at April 30, 2018 (last year's-2017-amounts also given as needed):

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Silver Clothiers reported the following selected items at April 30, 2018 (last year's-2017-amounts also given as needed):

$ 328,000 Accounts Receivable, net: Accounts Payable Cash April 30, 2018 573,720 11,000 Merchandise Inventory: April 30,

Compute Silver's (a) acid-test ratio, (b) accounts receivable turnover ratio, and (c) days' sales in receivables for the year ending April 30, 2018. Evaluate each ratio value as strong or weak. Silver sells on terms of net 30. (Round days' sales in receivables to a whole number.)

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Horngrens Financial And Managerial Accounting The Financial Chapters

ISBN: 9780134486840

6th Edition

Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura

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