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Working Backward: Accounts Receivable Turnover

It takes Carlson Corp. 30 days on average to collect its accounts receivable. The company began the year with $10,500 in accounts receivable. Sales on credit for the year amounted to $150,000.

Required

Assuming 360 days in a year, determine the amount of Carlson's accounts receivable at the end of the year.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91625018

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