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Bledel Company had accounts receivable of $100,000 on January 1, 2010. The only transactions that affected accounts receivable during 2010 were net credit sales of $1,000,000, cash collections of $900,000, and accounts written off of $30,000.
Instructions
(a) Compute the ending balance of accounts receivable.
(b) Compute the accounts receivable turnover ratio for 2010.
(c) Compute the average collection period in days.
Show how management came up with a cost of $24 per unit for this component - evaluate this cost calculation. Explain why it is or is not appropriate.
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