The following annual account balances are taken from Armour Sports at December 31. What is the change
Question:
The following annual account balances are taken from Armour Sports at December 31.
What is the change in the number of days' sales uncollected between years 2014 and 2015? (Round the number of days to one decimal.) According to this analysis, is the company's collection of receivables improving? Explain.
Transcribed Image Text:
2015 2014 Accounts receivable... 100,000 85,000 Net sales 2,500,000 2,000,000
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Interpretation It took the company 09 days less to collect ...View the full answer
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0077862275
22nd edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
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