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The following information was provided by Eastwood Corporation: Assets 2024 2023 Cash $4,200 $3,800 Accounts receivable $31,000 $27,000 Inventory $52,000 $48,000 If Eastwood's 2024 net credit sales totaled $182,500, what were the company's average days to collect receivables? A. 58.7 days B. 62.1 days C. 54.3 days D. 69.5 days

The following information was provided by Eastwood Corporation: Assets 2024 2023 Cash $4,200 $3,800 Accounts receivable $31,000 $27,000 Inventory $52,000 $48,000 If Eastwood's 2024 net credit sales totaled $182,500, what were the company's average days to collect receivables? A. 58.7 days B. 62.1 days C. 54.3 days D. 69.5 days

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 information was provided by Eastwood Corporation: Assets 2024 2023 Cash $4,200 $3,800 Accounts receivable $31,000 $27,000 Inventory $52,000 $48,000 If Eastwood's 2024 net credit sales totaled $182,500, what were the company's average days to collect receivables? A. 58.7 days B. 62.1 days C. 54.3 days D. 69.5 days
Transcribed Image Text:The following information was provided by Eastwood Corporation: Assets 2024 2023 Cash $4,200 $3,800 Accounts receivable $31,000 $27,000 Inventory $52,000 $48,000 If Eastwood's 2024 net credit sales totaled $182,500, what were the company's average days to collect receivables? A. 58.7 days B. 62.1 days C. 54.3 days D. 69.5 days
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