Thompson Wood Products has credit sales of $2,628,000 and accounts receivable of $627,800. Compute the value of the averagecollection period. (Use a 360-day year.)Average collection perioddays

Average collection period is period required to receive cash money from the customers from initial…

Answered: Thompson Wood Products has credit sales…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 9PA: Fitbands estimated sales are: What are the balances in accounts receivable for January, February,...

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Thompson Wood Products has credit sales of $2,628,000 and accounts receivable of $627,800. Compute the value of the average collection period. (Use a 360-day year.) Average collection period days