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Lubov Fominskaja [6]
3 years ago
10

Assuming Year 2 net credit sales totaled $122,000, what was the company's average days to collect receivables

Business
1 answer:
Montano1993 [528]3 years ago
4 0

Answer:

44.88 days

Explanation:

Note: The full question is attached

Average amount of accounts receivables = ($16,000+$14,000)/2

Average amount of accounts receivables = $15,000

Average days to collect receivables = Days * AR / Credit sales  

= 365 * $15,000 / $122,000

= 44.87704918032787 days

= 44.88 days

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