Suppose Lacey Corporation has total credit sales of $778,000. If the balance sheet reports accounts...
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Suppose Lacey Corporation has total credit sales of $778,000. If the balance sheet reports accounts receivable of $53,000, what is Lacey's average collection period? (Assume a 365 -day year.) 20 days 22 days 25 days 30 days Every line on the income statement is divided by what line to generate a common-sized income statement? total equity total income total sales total assets
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