
EBK INTERMEDIATE ACCOUNTING
10th Edition
ISBN: 9781260481976
Author: SPICELAND
Publisher: MCG COURSE
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I need help with this general accounting problem using proper accounting guidelines.
Ming Sporting Goods had a balance in the Accounts Receivable account of $780,000 at the beginning of the year and a balance of $820,000 at the end of the year. Net credit sales during the year amounted to $6,400,000. Required: What was the average collection period of the receivables in terms of days?
Determine the predetermined overhead rate
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