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Calculate Exquisite Ensembles accounts receivable turnover

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Reference no: EM132547000

Question - The following is from the financial statements of Exquisite Ensembles:

 

2006

2005

2004

Net sales

$1,260,000

$1,020,000

$850,000

Accounts receivable (Dec 31)

92,800

88,000

84,200

Required -

1. Calculate Exquisite Ensembles' accounts receivable turnover for 2005 and 2006.

2. Compare the two results and give a possible explanation for any significant change.

Reference no: EM132547000

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