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QUESTION: NATCHER CORPORATION'S ACCOUNTS RECEIVABLE AT THE END OF YEAR 2 WAS $155,000 AND ITS ACCOUNTS RECEIVABLE AT THE END OF YEAR 1 WAS $161,000. THE COMPANY'S INVENTORY AT THE END OF YEAR 2 WAS $156,000 AND ITS INVENTORY AT THE END OF YEAR 1 $149,000. SALES, ALL ON THE ACCOUNT, AMOUNTED WAS TO $1,411,000 IN YEAR 2. COST OF GOODS SOLD AMOUNTED ΤΟ $828,000 IN YEAR 2. THE COMPANY'S OPERATING CYCLE FOR YEAR 2 IS CLOSEST TO: (ASSUME 365 DAYS A YEAR. DO NOT ROUND YOUR INTERMEDIATE ANSWERS.)

QUESTION: NATCHER CORPORATION'S ACCOUNTS RECEIVABLE AT THE END OF YEAR 2 WAS $155,000 AND ITS ACCOUNTS RECEIVABLE AT THE END OF YEAR 1 WAS $161,000. THE COMPANY'S INVENTORY AT THE END OF YEAR 2 WAS $156,000 AND ITS INVENTORY AT THE END OF YEAR 1 $149,000. SALES, ALL ON THE ACCOUNT, AMOUNTED WAS TO $1,411,000 IN YEAR 2. COST OF GOODS SOLD AMOUNTED ΤΟ $828,000 IN YEAR 2. THE COMPANY'S OPERATING CYCLE FOR YEAR 2 IS CLOSEST TO: (ASSUME 365 DAYS A YEAR. DO NOT ROUND YOUR INTERMEDIATE ANSWERS.)

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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QUESTION: NATCHER CORPORATION'S ACCOUNTS RECEIVABLE AT THE END OF YEAR 2 WAS $155,000 AND ITS ACCOUNTS RECEIVABLE AT THE END OF YEAR 1 WAS $161,000. THE COMPANY'S INVENTORY AT THE END OF YEAR 2 WAS $156,000 AND ITS INVENTORY AT THE END OF YEAR 1 $149,000. SALES, ALL ON THE ACCOUNT, AMOUNTED WAS TO $1,411,000 IN YEAR 2. COST OF GOODS SOLD AMOUNTED ΤΟ $828,000 IN YEAR 2. THE COMPANY'S OPERATING CYCLE FOR YEAR 2 IS CLOSEST TO: (ASSUME 365 DAYS A YEAR. DO NOT ROUND YOUR INTERMEDIATE ANSWERS.)
Transcribed Image Text:QUESTION: NATCHER CORPORATION'S ACCOUNTS RECEIVABLE AT THE END OF YEAR 2 WAS $155,000 AND ITS ACCOUNTS RECEIVABLE AT THE END OF YEAR 1 WAS $161,000. THE COMPANY'S INVENTORY AT THE END OF YEAR 2 WAS $156,000 AND ITS INVENTORY AT THE END OF YEAR 1 $149,000. SALES, ALL ON THE ACCOUNT, AMOUNTED WAS TO $1,411,000 IN YEAR 2. COST OF GOODS SOLD AMOUNTED ΤΟ $828,000 IN YEAR 2. THE COMPANY'S OPERATING CYCLE FOR YEAR 2 IS CLOSEST TO: (ASSUME 365 DAYS A YEAR. DO NOT ROUND YOUR INTERMEDIATE ANSWERS.)
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