Homework Answers
Ending balance of accounts receivables = $210000+3760000-3680000-30000= $260,000
Accounts receivables turnover = Net credit sales / average accounts receivables
= 3760000 / (210000+260000)/2
= 16 times
Average collection period = 365 /Accounts receivables turnover = 365/16 = 22.8 days
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