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Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
Edition 17ISBN: 978-0078025778Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
Edition 17ISBN: 978-0078025778 Exercise 21
Cromley Corporation reports annual sales of $1,500,000. Its accounts receivable throughout the year averaged $ 125,000.
a. Compute the company's accounts receivable turnover rate.
b. Compute the average days outstanding of the company's accounts receivable.
a. Compute the company's accounts receivable turnover rate.
b. Compute the average days outstanding of the company's accounts receivable.
Explanation
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a. $1,500,000 ÷ $125...
Financial & Managerial Accounting 17th Edition by Jan Williams ,Susan Haka,Mark Bettner,Joseph Carcello
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