Question 9 A recent annual report for C L Co contained the following data 2019 2018 Trade receivables $1,798 $1,666 Less Allowance for Doubtful Accounts 12 10 Net trade receivables 1,786 1,656 Net sales (assume all are on credit) $19,805 1 Calculate the receivables turnover ratio and average collection period for both years a Receivables turnover b Average collection period 2 What do these results indicate

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Question: Question 9 A recent annual report for C&L Co. contained the following data: 2019 2018 Trade receivables $1,798 $1,666 Less: Allowance for Doubtful Accounts 12

Question 9

A recent annual report for C&L Co. contained the following data:

	2019	2018
Trade receivables	$1,798	$1,666
Less: Allowance for Doubtful Accounts	12	10
Net trade receivables	1,786	1,656
Net sales (assume all are on credit)	$19,805

1. Calculate the receivables turnover ratio and average collection period for both years: a. Receivables turnover b. Average collection period 2. What do these results indicate?

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