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Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
Edition 3ISBN: 978-0132962339 Exercise 46
Collection period for receivables
Contemporary Media Sign Company sells on account. Recently, Contemporary reported the following figures:
Requirements
1. Compute Contemporary's average collection period on receivables during 2012.
2. Suppose Contemporary's normal credit terms for a sale on account are "2/10, net 30." How well does Contemporary's collection period compare to the company's credit terms Is this good or bad for Contemporary
Contemporary Media Sign Company sells on account. Recently, Contemporary reported the following figures:
Requirements
1. Compute Contemporary's average collection period on receivables during 2012.
2. Suppose Contemporary's normal credit terms for a sale on account are "2/10, net 30." How well does Contemporary's collection period compare to the company's credit terms Is this good or bad for Contemporary
Explanation
Verified
Verified
Calculate average Collection period:
Co...
Financial & Managerial Accounting 3rd Edition by Charles Horngren,Harrison, Walter,Suzanne Oliver
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