Homework Answers
ANSWER
| 2015 | 2014 | ||
| Receivable turnover | Sales/average receivable | 3292932/23013 = 143.1 | 3157241/28793.50 = 109.7 |
| Average collection period | 365/receivable turnover | 365/143.1 = 2.6 days | 365/109.7 = 3.3 days |
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