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Acct 2101 Formulas > Formulas For Chapter 8 > Flashcards

Formulas For Chapter 8 Flashcards

1
Q

Interest

A

Face x rate x time
Days / 360
Months / 12
Year / 1

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2
Q

Account receivable turnover

A

Net credit sale / average net account receivable

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3
Q

Average collection period

A

365 / accounts receivable turnover

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4
Q

Average net account receivable

A

Current year account receivable + previous year account receivable / 2

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Acct 2101 Formulas (9 decks)

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