Acc291 Financial Accounting: Do It8-4 In 2011, Drew Gooden Company has net credit sales

Acc291 Financial Accounting

DO IT! 8-4
In 2011, Drew Gooden Company has net credit sales of $1,600,000 for the year. It had a beginning accounts receivable (net) balance of $101,000 and an ending accounts receivable (net) balance of $107,000.
a. Compute Drew Gooden Company's accounts receivable turnover. (Round answer to 1 decimal place, e.g. 10.5.)
b. Compute Drew Gooden Company's average collection period in days. (Round answer to 1 decimal place, e.g. 10.5.)
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