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