FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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2.

The following data are taken from the financial statements of Blossom Company.
Accounts receivable (net), end of year
Net sales on account
Terms for all sales are 1/10.n/45
(a1)
2022
2021
$551.000
$535,000
4,126,800 4,349,200
Accounts receivable turnover
Compute for each year the accounts receivable turnover. At the end of 2020, accounts receivable was $513,000. (Round answers
to 1 decimal place, eg 12.5)
D
2022
times
2021
times
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Transcribed Image Text:The following data are taken from the financial statements of Blossom Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10.n/45 (a1) 2022 2021 $551.000 $535,000 4,126,800 4,349,200 Accounts receivable turnover Compute for each year the accounts receivable turnover. At the end of 2020, accounts receivable was $513,000. (Round answers to 1 decimal place, eg 12.5) D 2022 times 2021 times
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