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#1 5 points The following information was taken from the books of Olmeck. Inc. Year 1 Year 2 Sales $956,000 992,000 Accounts receivable Beginning of
#1 5 points The following information was taken from the books of Olmeck. Inc. Year 1 Year 2 Sales $956,000 992,000 Accounts receivable Beginning of year 120,500 136,400 End of year 110,000 120,500 (a) Determine the accounts receivable turnover for Year 1 and Year 2. (b) Determine the number of days' sales in receivables for Year 1 and Year 2. The industry average for the accounts receivable turnover is 8.0. How does Olmeck, Inc. compare
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