Perfect Purchase Electronics Selected Income Statement Items, 2009Cash Sales $1,500,000Credit Sales $7,500,000Total Sales $9,000,000COGS $6,000,000 Perfect Purchase Electronics Selected Balance Sheet Accounts 12/31/2009 12/31/2008 ChangeAccounts Receivable $270,000 $240,000 $30,000Inventory $125,000 $100,000 $25,000Accounts Payable $110,000 $90,000 $20,000Using the information provided, what is the collection cycle for the firm?

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A: CASH FLOW STATEMENTCash flow statement provides additional information to user of financial…

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A: Gross profit = Net Sales - Cost of goods sold Cost of goods sold = Net Sales - Gross profit

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Q: Bramble Corporation had net credit sales of $14100000 and cost of goods sold of $9370000 for the…

A: Here, Net Credit Sales is $14100000 Cost of Goods Sold is $9370000 Average Inventory is $1171250

Q: Bramble Corporation had net credit sales of $14100000 and cost of goods sold of $9370000 for the…

A: Here, Net Credit Sales is $14100000 Cost of Goods Sold is $9370000 Average Inventory is $1171250

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Q: Bramble Corporation had net credit sales of $14100000 and cost of goods sold of $9370000 for the…

A: Here, Net Credit Sales is $14100000 Cost of Goods Sold is $9370000 Average Inventory is $1171250

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Q: Bramble Corporation had net credit sales of $14100000 and cost of goods sold of $9370000 for the…

A: Here, Net Credit Sales is $14100000 Cost of Goods Sold is $9370000 Average Inventory is $1171250

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