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Accounts Receivable Analysis The following data are taken from the financial statements of Basinger...

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Accounting

Accounts Receivable Analysis
The following data are taken from the financial statements of Basinger Inc. Terms of all sales are 2/10, n/45.
a. For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round interim calculations to the nearest dollar and
final answers to one decimal place. Assume a 365-day year.
20Y3,20Y2
Accounts receivable turnover
Number of days' sales in receivables
days
days
b. The collection of accounts receivable has
. This can be seen in both the
in accounts receivable turnover and the
in the collection period.
image

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