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Foundations Of Financial Management
Found in: Page 221
Foundations Of Financial Management

Foundations Of Financial Management

Book edition 16th
Author(s) Stanley B. Block, Geoffrey A. Hirt, Bartley Danielsen
Pages 768 pages
ISBN 9781259277160

Short Answer

Thompson Wood Products has credit sales of $2,160,000 and accounts receivable of $288,000. Compute the value of the average collection period.

The average collection period will be 48 days.

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Step by Step Solution

Information provided in the question

Credit sales = $2,160,000

Accounts receivables = $288,000

Calculation of average collection period

The average collection period will be 48 days.

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