The following annual account balances are taken from Armour Sports at December 31. __________________________ 2017 _ 2016

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The following annual account balances are taken from Armour Sports at December 31.

______________________________________ 2017 _____________ 2016

Accounts receivable .......................$ 100,000 ............$ 85,000

Net sales ....................................2,500,000 ............ 2,000,000

What is the change in the number of days' sales uncollected between years 2016 and 2017? (Round the number of days to one decimal.) According to this analysis, is the company's collection of receivables improving? Explain.

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Fundamental Accounting Principles

ISBN: 978-1259536359

23rd edition

Authors: John Wild, Ken Shaw, Barbara Chiappett

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Question Posted: Mar 24, 2017 01:07 AM

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The following annual account balances are taken from Armour Sports at December 31. ______________________________________ 2017 _____________ 2016

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Interpretation It took the company 09 days less to collect ...View the full answer

Fundamental Accounting Principles

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The following annual account balances are taken from Armour Sports at December 31. __________________________ 2017 _ 2016