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Balley Corp. significantly reduced its requirements for credit sales. As a result, sales during the current year increased dramatically. It had receivables at the beginning

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Balley Corp. significantly reduced its requirements for credit sales. As a result, sales during the current year increased dramatically. It had receivables at the beginning of the year of $38,000 and ending receivables of $191,000. Credit sales were $380,000. Determine cash collections during the period and discuss how your findings would affect Bailey Corp.'s quality of earnings ratio. (Do not compute.) What concerns might you have regarding Bailey's accounting

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