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Problem:

Pujols Lumber Yard has a current accounts receivable balance of $447,016. Credit sales for the year just ended were $4,950,605.

Required:

Question 1: What is the receivables turnover?

Question 2: What is the days' sales in receivables?

Question 3: How long did it take on average for credit customers to pay off their accounts during the past year?

Note: Please show how you came up with the solution.

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M91148066

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