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Question: The following data are taken from the financial statements of Colby Company

Compute for each year

(a) the accounts receivable turnover and

(b) the average collection period.

What conclusions about the management of accounts receivable can be drawn from these data? At the end of 2015, accounts receivable was $520,000.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92665845

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