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Category > Accounting Posted 25 May 2017 My Price 3.00

Cromley Corporation reports annual sales of $1,500,000

Cromley Corporation reports annual sales of $1,500,000. Its accounts receivable throughout the year averaged $125,000.

a.       Compute the company’s accounts receivable turnover rate.

b.       Compute the average days outstanding of the company’s accounts receivable.

 

Answers

Alpha Geek
(8)
Status NEW Posted 25 May 2017 11:05 AM My Price 3.00

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file 1495711665-Answer.docx preview (71 words )
C-----------rom-----------ley----------- Co-----------rpo-----------rat-----------ion----------- re-----------por-----------ts -----------ann-----------ual----------- sa-----------les----------- of----------- $1-----------,50-----------0,0-----------00.----------- It-----------s a-----------cco-----------unt-----------s r-----------ece-----------iva-----------ble----------- th-----------rou-----------gho-----------ut -----------the----------- ye-----------ar -----------ave-----------rag-----------ed -----------$12-----------5,0-----------00.----------- a-----------. ----------- Â----------- Â ----------- Â----------- Â -----------Com-----------put-----------e t-----------he -----------com-----------pan-----------yâ€-----------™s -----------acc-----------oun-----------ts -----------rec-----------eiv-----------abl-----------e t-----------urn-----------ove-----------r r-----------ate-----------. -----------b.Â----------- Â ----------- Â----------- Â ----------- Â----------- Co-----------mpu-----------te -----------the----------- av-----------era-----------ge -----------day-----------s o-----------uts-----------tan-----------din-----------g o-----------f t-----------he -----------com-----------pan-----------yâ€-----------™s -----------acc-----------oun-----------ts -----------rec-----------eiv-----------abl-----------e. ----------- So-----------lut-----------ion-----------: ----------- An-----------nua-----------l s-----------ale-----------s =----------- $1-----------,50-----------0,0-----------00 -----------(as-----------sum-----------ed -----------to -----------be -----------cre-----------dit----------- sa-----------les-----------) A-----------ver-----------age----------- Ac-----------cou-----------nts----------- re-----------cei-----------vab-----------le -----------= $-----------125-----------,00-----------0 A-----------cco-----------unt-----------s r-----------ece-----------iva-----------ble----------- tu-----------rno-----------ver----------- ra-----------te
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