Business, 31.12.2020 19:20 soliseric879

Novak Corp. had accounts receivable of $140,000 on January 1, 2022. The only transactions that affected accounts receivable during 2022 were net credit sales of $3,795,000, cash collections of $3,725,000, and accounts written off of $20,000. Required:
a. Compute the ending balance of accounts receivable.
b. Compute the accounts receivable turnover for 2016.
c. Compute the average collection period in days.

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Novak Corp. had accounts receivable of $140,000 on January 1, 2022. The only transactions that affec...

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