14. Anthonys Sales provides the following information: Net credit sales: $800,000 Beginning net accounts receivable: $37,000 Ending net accounts receivable: $22,000 Calculate Anthonys accounts receivable turnover ratio. (Round to the nearest whole number.) A) 20 times B) 26 times C) 27 times D) 22 times What does this ratio tell us?

15. Which of the following statements is incorrect? A) Depreciation is recorded on all plant assets. B) Plant assets not currently being used in business operations are long-term investments. C) Plant assets are long-lived tangible assets used in the operations of a business. D) The life cycle of a plant asset includes: acquisition, usage, and disposal.