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Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN: 9781337788281
Author: James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher: Cengage Learning
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Pls General Accounting Question Solution

Transcribed Image Text:The following financial information for Annapolis Corporation for the fiscal years ending 2019 &
2018 (all balances are normal):
Accounts Receivable
Inventory
Net Sales (all credit)
Cost of Goods Sold
Net Income
2019
2018
$32,000 $40,000
42,000 38,000
390,000 350,000
154,000 152,000
27,200
24,800
Use this information to determine the accounts receivable average collection period for FY 2019.
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