Todd co reported annual net sales for 2010 and 2011
Todd Co. reported annual net sales for 2010 and 2011 of $664,000 and $746,000, respectively. Its year-end balances of accounts receivable follow: December 31, 2010, $65,000; and December 31, 2011, $93,000.
(a) Calculate its days’ sales uncollected at the end of each year.
(b) Evaluate and comment on any changes in the amount of liquid assets tied up in receivables.
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