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XYZ Corporation's receivables turnover ratio was 8.2 in 2022, and its average accounts receivable during the period was $2,500 million. • What is the amount of its net credit sales for the period? ⚫ What is the average collection period in days?

XYZ Corporation's receivables turnover ratio was 8.2 in 2022, and its average accounts receivable during the period was $2,500 million. • What is the amount of its net credit sales for the period? ⚫ What is the average collection period in days?

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 12MC: South Rims has an accounts receivable balance at the end of 2018 of $357,470. The net credit sales...
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XYZ Corporation's receivables turnover ratio was 8.2 in 2022, and its average accounts receivable during the period was $2,500 million. • What is the amount of its net credit sales for the period? ⚫ What is the average collection period in days?
Transcribed Image Text:XYZ Corporation's receivables turnover ratio was 8.2 in 2022, and its average accounts receivable during the period was $2,500 million. • What is the amount of its net credit sales for the period? ⚫ What is the average collection period in days?
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