What is the average receivables balance

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Reference no: EM132037919

Dome Metals has credit sales of $288,000 yearly with credit terms of net 120 days, which is also the average collection period. Dome does not offer a discount for early payment, so its customers take the full 120 days to pay.

a. What is the average receivables balance? (Use a 360-day year.)

b. What is the receivables turnover? (Use a 360-day year.)

Reference no: EM132037919

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