The Robinson Company from Problem 2 had net sales of $1,200,000 in 2016 and $1,300,000 in 2017.
Question:
The Robinson Company from Problem 2 had net sales of $1,200,000 in 2016 and $1,300,000 in 2017.
a. Determine the receivables turnover in each year.
b. Calculate the average collection period for each year.
c. Based on the receivables turnover for 2016, estimate the investment in receivables if net sales were $1,300,000 in 2017. How much of a change in the 2017 receivables occurred?
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Step by Step Answer:
a AR turnover SalesAR 1300000350000 371 2017 1200000300000 400 2016 b Average collection ...View the full answer
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Related Book For 
Introduction to Finance Markets, Investments and Financial Management
ISBN: 978-1119398288
16th edition
Authors: Ronald W. Melicher, Edgar A. Norton
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