Lupo, Inc., has an average collection period of 27 days. Its average daily investment in receivables...
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Lupo, Inc., has an average collection period of 27 days. Its average daily investment in receivables is $43,300. Assume 365 days per year. a. What is the receivables turnover? (Do not round intermediate calculations and round your answer to 4 decimal places, e.g., 32.1616.) b. What are annual credit sales? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Receivables turnover b. Annual credit sales times Lupo, Inc., has an average collection period of 27 days. Its average daily investment in receivables is $43,300. Assume 365 days per year. a. What is the receivables turnover? (Do not round intermediate calculations and round your answer to 4 decimal places, e.g., 32.1616.) b. What are annual credit sales? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Receivables turnover b. Annual credit sales times
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