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Question
the following information is available from the annual reports of nite and day companies.
Instructions
(a) Based on the preceding information, compute the following for each company:
1. Receivables turnover ratio. (Assume all sales were credit sales.)
2. Average collection period.
(b) What conclusion concerning the management of accounts receivable can be drawn from these data?
Answer
This answer is hidden. It contains 320 characters.
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