Essay
Outdoors Unlimited had net sales of $285,000 for Year 1,and $575,000 for Year 2.The year-end balances of accounts receivable were $49,000 for Year 1,and $85,000 for Year 2.Calculate the days' sales uncollected at the end of each year and describe any changes in the apparent liquidity of the company's receivables.
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Year 1 = 63 days; Year 2 = 54 ...View Answer
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