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Problem - Accounts receivable turnover and number of days' sales in receivables
Financial statement data for years ending December 31 for Blum Company are shown below.
2012
2011
Net Sales
$2,430,000
$1,920,000
Accounts receivable:
Beginning of the year
180,000
120,000
End of year
225,000
Required -
a. Determine the accounts receivable turnover for 2012 and 2011.
b. Determine the number of days' sales in receivables for 2012 and 2011. Round to one decimal place.
c. Does the change in accounts receivable turnover and the number of days' sales in receivables from 2011 to 2012 indicate a favorable or an unfavorable trend?
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