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Compute the average collection period in days

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Question - Monty Corp. had accounts receivable of $180,000 on January 1, 2020. The only transactions that affected accounts receivable during 2020 were net credit sales of $3,485,000, cash collections of $3,415,000, and accounts written off of $20,000.

Compute the ending balance of accounts receivable.

Compute the accounts receivable turnover for 2020.

Compute the average collection period in days.

Reference no: EM132593261

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