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XYZ Corp. has an average collection period of 30 days. Its average daily investment in receivables is $95,000. a. What is the receivables turnover? b. What are annual credit sales?

XYZ Corp. has an average collection period of 30 days. Its average daily investment in receivables is $95,000. a. What is the receivables turnover? b. What are annual credit sales?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter3: Evaluation Of Financial Performance
Section: Chapter Questions
Problem 3P
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XYZ Corp. has an average collection period of 30 days. Its average daily investment in receivables is $95,000. a. What is the receivables turnover? b. What are annual credit sales?
Transcribed Image Text:XYZ Corp. has an average collection period of 30 days. Its average daily investment in receivables is $95,000. a. What is the receivables turnover? b. What are annual credit sales?
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