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Problem - Blue, Inc., sells playground equipment to schools and municipalities. It mails invoices 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 2017, 2018, and 2019 follow:
Years Ending December 31,
2017
2018
2019
Sales
$1,785,980
$1,839,559
$1,986,724
Accounts receivable at year-end
220,189
227,896
267,094
Required -
1. Calculate the rates of increase in sales and in receivables during 2018 and 2019.
2. Do your calculations indicate any potential problems with Blue's receivables?
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