Write down the Credit Turnover Rate and Credit Days formulas according to the information below. Calculate rates
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Question:
Write down the Credit Turnover Rate and Credit Days formulas according to the information below. Calculate rates for 2017.
2016 | 2017 | |
Net Credit Sales | $75,300 | $76,700 |
Accounts receivable | $45,600 | $43,200 |
AFDA (credit balance) | $3,200 | $4,400 |
Receivable Turnover Rate (formula)=
2017 AR Ciro
Credit Days (formula) =
2017 Credit Days
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118953907
8th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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