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1. Write the Ratio/ Equation to be used, IF REQUIRED 2. Substitute the given 3. Solution (Solve for the ask) 4. Label your answer and solution properly (Peso sign, write "days" "times or x", %) 4. Double rule your answer Pine Hardware Store had net credit sales of P3,900,000 and cost of goods sold of P3,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were P600,000 and P700,000, respectively. The accounts receivable turnover ratio was

1. Write the Ratio/ Equation to be used, IF REQUIRED 2. Substitute the given 3. Solution (Solve for the ask) 4. Label your answer and solution properly (Peso sign, write "days" "times or x", %) 4. Double rule your answer Pine Hardware Store had net credit sales of P3,900,000 and cost of goods sold of P3,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were P600,000 and P700,000, respectively. The accounts receivable turnover ratio was

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. Write the Ratio/ Equation to be used, IF REQUIRED 2. Substitute the given 3. Solution (Solve for the ask) 4. Label your answer and solution properly (Peso sign, write "days" "times or x", %) 4. Double rule your answer Pine Hardware Store had net credit sales of P3,900,000 and cost of goods sold of P3,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were P600,000 and P700,000, respectively. The accounts receivable turnover ratio was
Transcribed Image Text:1. Write the Ratio/ Equation to be used, IF REQUIRED 2. Substitute the given 3. Solution (Solve for the ask) 4. Label your answer and solution properly (Peso sign, write "days" "times or x", %) 4. Double rule your answer Pine Hardware Store had net credit sales of P3,900,000 and cost of goods sold of P3,000,000 for the year. The Accounts Receivable balances at the beginning and end of the year were P600,000 and P700,000, respectively. The accounts receivable turnover ratio was
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