Mulberry Company reports the following information for the years ended December 31, 20X3 and 20X4:
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20X4
|
20X3
|
|
Sales
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$980,000
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$820,000
|
|
Accounts Receivable
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75,000
|
65,000
|
- Sales consisted of 80% credit sales and 20% cash sales during 20X3 and 20X4.
- From the information given above for Mulberry Company, determine the:
a. accounts receivable turnover for 20X4
b. days to collect accounts receivable for 20X4