The following data are taken from the financial statements of Amazing Technology Inc. Terms of all sales

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The following data are taken from the financial statements of Amazing Technology Inc. Terms of all sales are 2/10, n/30.


The following data are taken from the financial statements of


a. For Years 2 and 3, determine
(1) The accounts receivable turnover
(2) The number of days’ sales in receivables.
Round to nearest dollar and one decimal place.
b. What conclusions can be drawn from these data concerning accounts receivable and creditpolicies?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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