In year 1, a firm had cash and cash equivalents of $100,000, accounts receivable of $25,000, and

Question:

In year 1, a firm had cash and cash equivalents of $100,000, accounts receivable of $25,000, and inventories of $13,000. In year 2, it had cash and cash equivalents of $80,000, accounts receivable of $20,000, and inventories of $15,000. Calculate the change in total current assets in dollars and as a percentage.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...