If Cactus, Inc. has annual sales of $83,000, average accounts payable of $30,000, and average accounts receivable of $25,000, Cactus's receivables turnover and average collection period are closest to: Receivables turnover Average collection period O 4.0 times, 91 days O 3.5 times, 120 days O 2.1 times, 174 days 3.3 times, 110 days

If Cactus, Inc. has annual sales of $83,000, average accounts payable of $30,000, and average accounts receivable of $25,000, Cactus's receivables turnover and average collection period are closest to: Receivables turnover Average collection period O 4.0 times, 91 days O 3.5 times, 120 days O 2.1 times, 174 days 3.3 times, 110 days

Name: If Cactus, Inc. has annual sales of $83,000, average accounts payable
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Description: If Cactus, Inc. has annual sales of $83,000, average accounts payable of $30,000, and averageaccounts receivable of $25,000, Cactus's receivables turnover and average collection period areclosest to: Receivables turnover Average collection periodO 4

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 12MC: South Rims has an accounts receivable balance at the end of 2018 of $357,470. The net credit sales...

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