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Accounts Receivable Turnover and Days' Sales in Receivables Classic Company reported the following: For the Period Ending Year 2 Year 1 Sales Accounts receivable Assume
Accounts Receivable Turnover and Days' Sales in Receivables Classic Company reported the following: For the Period Ending Year 2 Year 1 Sales Accounts receivable Assume that accounts receivable were $686,200 at the beginning of Year 1. a. Compute the accounts receivable turnover for Year 2 and Year 1. Round to one decimal place. Year 2: Year 1 b. Compute the days' sales in receivables for Year 2 and Year 1. Round to one decimal place. Use 365 days per year in your calculations. Year 2 Year 1: c. The change in the accounts receivable turnover from year 1 to year 2 indicates a(n) $7,933,640 $7,884,000 751,900 773,800 days days in the efficiency of collecting accounts receivable and is a(n) trend. The change in the days' sales in receivables is a(n) trend
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