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The following data are taken from the financial statements of Blossom Company, Accounts receivable (net), end of year Net sales on account, Terms for all sales are 1/10.n/45 (a1) 2022 $551.000 4,126,800 Accounts receivable turnover 2021 2022 $535,000 4,349,200 Compute for each year the accounts receivable turnover. At the end of 2020, accounts receivable was $513,000. (Round answers to 1 decimal place, eg. 12.5) DE times 2021 times

The following data are taken from the financial statements of Blossom Company, Accounts receivable (net), end of year Net sales on account, Terms for all sales are 1/10.n/45 (a1) 2022 $551.000 4,126,800 Accounts receivable turnover 2021 2022 $535,000 4,349,200 Compute for each year the accounts receivable turnover. At the end of 2020, accounts receivable was $513,000. (Round answers to 1 decimal place, eg. 12.5) DE times 2021 times

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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The following data are taken from the financial statements of Blossom Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10.n/45 (a1) 2022 2021 $551.000 $535,000 4,126,800 4,349,200 Accounts receivable turnover Compute for each year the accounts receivable turnover. At the end of 2020, accounts receivable was $513,000. (Round answers to 1 decimal place, eg 12.5) D 2022 times 2021 times
Transcribed Image Text:The following data are taken from the financial statements of Blossom Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10.n/45 (a1) 2022 2021 $551.000 $535,000 4,126,800 4,349,200 Accounts receivable turnover Compute for each year the accounts receivable turnover. At the end of 2020, accounts receivable was $513,000. (Round answers to 1 decimal place, eg 12.5) D 2022 times 2021 times
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