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Business, 15.07.2021 21:10 nickname0097

The financial statements of Danielle Manufacturing Company report net sales of $600,000 and accounts receivable of $60,000 and $90,000 at the beginning and end of the year, respectively. 1. What is the receivables turnover ratio for Danielle?
i. 4 times
ii. 6.67 times
iii. 8 times
iv. 10 times
2. What is the average collection period for accounts receivable in days?
i. 36.5
ii. 45.6
iii. 54.7
iv. 91.3

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