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
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
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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F940a5e04-ce73-4ff6-b735-a01036960128%2F51a75bc3-2555-4f00-8fc5-65355de1bbee%2Fdwqsuzp_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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
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