The following data are taken from the comparative balance sheets of Duncan Company. Calculate the accounts receivable

Question:

The following data are taken from the comparative balance sheets of Duncan Company. Calculate the turnover for 2014 and 2013 (round to two decimal places). Is the change favourable or unfavorable? Explain why. Compare Duncan€™s turnover to the industry average turnover for 2014 of4.2.

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...