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PROBLEM 48-88 (Continued)
(b) (Continued)
I
Calculations:
Sales............................................................................................ $220,000
Less: Increase in accounts receivable ................................... 14,000
Cash receipts from customers ............................................. $206.000
$7,000
= 0.2 times
r $41,000 + $53,0001
$7,000
r $61,ooo + $63,000 1
= 0.1 times