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Current Assets: 2015 2014 Cash $180,000 $200,000 Accounts receivable, net of allowance for uncollectible accounts of $35,000 and $25,000 220,000 180,000 Inventory 50,000 40,000 Current

Current Assets: 2015 2014
Cash $180,000 $200,000
Accounts receivable, net of allowance for uncollectible accounts of $35,000 and $25,000 220,000 180,000
Inventory 50,000 40,000
Current liabilities $320,000 $320,000

1) Compute the acid-test ratio for the Heely Equipment Sales for 2015 and 2014. Compare the ratio for the two years.

2) Compute the days' sales in receivables if net sales were $3,650,000.

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