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Question - Playworld, Inc. sells playground equipment to schools and municipalities. Invoices are mailed at the end of each month for all goods shipped during that month; credit terms are net 30 days. Sales and accounts receivable data for 2008, 2009, and 2010 were as follows:
2008
2009
2010
Sales
$2,560,975
$2,663,414
$2,903,121
Year-end receivables
$328,330
$342,120
$396,859
Required -
A. Calculate the growth rates in sales and receivables during 2009 and 2010.
B. Do your calculations indicate any potential problems with Playworld's receivables? If so, suggest a possible explanation for your findings.
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