Problemrise above this inc has an average collection period, Ask an Expert

Accounting

Problem:

Rise Above This, Inc., has an average collection period of 66 days. Its average daily investment in receivables is $68,800. Assume 365 days per year.

Required:

Question 1: What is the receivables turnover?

Question 2: What are annual credit sales?

Note: Please show how to work it out.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91173404

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