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Cyclone Inc

Question 116

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Cyclone Inc. reported the following figures from its financial statements for the years 2015 through 2017: Cyclone Inc. reported the following figures from its financial statements for the years 2015 through 2017:   Required:  A.Calculate the accounts receivable turnover for 2017 and 2016. B.Calculate the average collection period for 2017 and 2016. Required:
A.Calculate the accounts receivable turnover for 2017 and 2016.
B.Calculate the average collection period for 2017 and 2016.

Correct Answer:

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A. 2017 = 9.01 = Net sales $717,422 ÷ Av...

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