Clculating the average collection , Finance Basics

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Clculating the average collection

3-Calculating the Average Collection Period. Pujols Lumber Yard has a current account receivable balance of $527,167. Credit sales for the year just ended were $5,938,267. What is the receivable turnover? The day's sales in receivables? How long did it take on average for credit customers to pay off their accounts during the past year?

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Finance Basics: Clculating the average collection

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