The following data are taken from the financial statements of Blossom Company. Accounts receivable (net), end...
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The following data are taken from the financial statements of Blossom Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 Accounts receivable turnover 2017 $ 580,900 4,821,000 Compute for each year the accounts receivable turnover. At the end of 2015, accounts receivable was $579,000. (Round answers to 1 decimal place, e.g. 12.5.) Average collection period 2017 2016 $ 583,000 4,180,000 2017 times Compute for each year the average collection period. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) days 2016 2016 times days The following data are taken from the financial statements of Blossom Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 Accounts receivable turnover 2017 $ 580,900 4,821,000 Compute for each year the accounts receivable turnover. At the end of 2015, accounts receivable was $579,000. (Round answers to 1 decimal place, e.g. 12.5.) Average collection period 2017 2016 $ 583,000 4,180,000 2017 times Compute for each year the average collection period. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for calculation.) days 2016 2016 times days
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Answer Solution 1Accounts Receivable Turnover net sale average accounts receivable avera... View the full answer
Related Book For
Financial accounting
ISBN: 978-1118285909
IFRS Edition
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel
Posted Date:
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