The following data exists for Carley Company. 
Calculate the accounts receivable turnover and the average collection period for accounts receivable in days for 2021.
Definitions:
Adjustable Rate Mortgage
A type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan according to market conditions.
Fixed Rate Mortgage
A mortgage in which the interest rate remains constant throughout the term of the loan.
Interest Rate
is the cost of borrowing money or the return on investment in a savings account, usually expressed as a percentage of the principal over a period of one year.
Tax Free Municipal Bond
A type of bond issued by local governments or their agencies, the interest from which is exempt from federal income taxes.
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Q189: The following data exists for Carley Company.
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