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The financial statements of Colter Manufacturing Company report net sales of $400,000 and accounts receivable...

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Accounting

The financial statements of Colter Manufacturing Company report net sales of $400,000 and accounts receivable of $80,000 and $40,000 at the beginning and end of the year, respectively.
36. What is the receivables turnover ratio for Colter?
A)6.7 times
B)10 times
C)5 times
D)8 times
37. What is the average collection period for accounts receivable in days?
A)40 times
B)80 times
C)54.7 times
D)50 times
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