Dome metals has credit sales of 288000 yearly with credit, Ask an Expert

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Dome Metals has credit sales of $288,000 yearly with credit terms of net 120 days, which is also the average collection period. Dome does not offer a discount for early payment, so its customers take the full 120 days to pay.

a. What is the average receivables balance? (Use a 360-day year.)

b. What is the receivables turnover? (Use a 360-day year.)

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Financial Management, Finance

Category:- Financial Management
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