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Please don't write it on a paper. The following data are taken from the comparative balance sheets of Grayling Company. Compute and interpret its accounts
Please don't write it on a paper.
The following data are taken from the comparative balance sheets of Grayling Company. Compute and interpret its accounts receivable turnover for Year 2. Competitors average a turnover of 7.5. How is the company doing in relation to its competitors?
| Year 2 | Year 1 |
Accounts receivable, net | 180,230 | 220,450 |
Net sales | 1,500,750 | 1,495,600 |
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