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Home Q & A Board Other Fields Homework Help Business Accounting
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Harrison Harrison
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7 years ago
The following data are taken from the financial statements of Big Cedar Company:

   2014   2013
Average accounts receivable   $   280,000   $ 225,000
Net sales    2,985,000   2,340,000

70% of sales are on account. Terms for all credit sales are 2/10, n/30.

Instructions
   (a) Calculate the accounts receivable turnover and the average collection period for both years.
   (b) What conclusion can an analyst draw about the management of the accounts receivable?
Textbook 
Financial Accounting, Canadian Edition

Financial Accounting, Canadian Edition


Edition: 5th
Authors:
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AlexmosutheAlexmosuthe
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7 years ago
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Harrison Author
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7 years ago
Thank you, thank you, thank you!
jasonbourne
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Yesterday
You make an excellent tutor!
homework1
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2 hours ago
Helped a lot
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