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The following data are taken from the financial statements of Gladow Company

The following data are taken from the financial statements of Gladow Company. ____________________________________ 2017 __________ 2016 Accounts receivable (net), end of year ... € 550,000 ...........€ 520,000 Net sales on account ..........................3,680,000 ..........3,000,000 Terms for all sales are 1/10, n/60. (a) Compute for each year (1) The accounts receivable turnover and (2) The average collection period. At the end of 2015, accounts receivable (net) was €480,000. (b) What conclusions about the management of accounts receivable can be drawn from these data?

Apr 11 2020 View more View Less

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