In 2012, Grossfeld Company has net credit sales of $1,600,000 for the year. It had a beginning accounts receivable (net) balance of $108,000 and an ending accounts receivable (net) balance of $120,000. Compute Grossfeld Company's (a) Receivables turnover and (b) Average collection period in days.

In 2012, Grossfeld Company has net credit sales of $1,600,000 for the year. It had a beginning accounts receivable (net) balance of $108,000 and an ending accounts receivable (net) balance of $120,000. Compute Grossfeld Company's (a) Receivables turnover and (b) Average collection period in days.

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter15: Financial Statement Analysis

Section: Chapter Questions

Problem 14BEA: Last year, Nikkola Company had net sales of 2.299.500,000 and cost of goods sold of 1,755,000,000....

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I need answer of this question solution general accounting

In 2012, Grossfeld Company has net credit sales of
$1,600,000 for the year. It had a beginning accounts
receivable (net) balance of $108,000 and an ending
accounts receivable (net) balance of $120,000.
Compute Grossfeld Company's
(a) Receivables turnover and
(b) Average collection period in days.

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