Essay
The following information is available from the annual reports of Nite and Day Companies. 
Instructions
(a) Based on the preceding information, compute the following for each company:
1. Accounts receivable turnover. (Assume all sales were credit sales.)
2. Average collection period.
(b) What conclusion concerning the management of accounts receivable can be drawn from these data?
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Correct Answer:
Verified
(b) Generally companies like to have a ...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
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