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The following is from the financial statements of Exquisite Ensembles: 200620052004 Net sales $1,260,000$1,020,000$850,000 Accounts receivable (Dec 31) 92,80088,00084,200 Calculate Exquisite Ensembles' accounts receivable turnover
The following is from the financial statements of Exquisite Ensembles:
200620052004
Net sales $1,260,000$1,020,000$850,000
Accounts receivable (Dec 31) 92,80088,00084,200
Calculate Exquisite Ensembles' accounts receivable turnover for 2005 and 2006.
Compare the two results and give a possible explanation for any significant change.
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