Deacon Co. reported annual net sales for 2007 and 2008 of $665,000 and $747,000, respectively. Its year-end

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Deacon Co. reported annual net sales for 2007 and 2008 of $665,000 and $747,000, respectively. Its year-end balances of accounts receivable follow: December 31, 2007, $61,000; and December 31, 2008,

$93,000.

(a) Calculate its days’ sales uncollected at the end of each year.

(b) Evaluate and comment on any changes in the amount of liquid assets tied up in receivables.

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Deacon Co. reported annual net sales for 2007 and 2008 of $665,000 and $747,000, respectively. Its year-end

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Financial Accounting Information For Decisions

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