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The following data are taken from the financial statements of Sigmon Inc Terms of all sales are

The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45. __________________________________20Y3 20Y2 20Y1 Accounts receivable, end of year.........$ 725,000.........$ 650,000.......$600,000 Sales on account.............................5,637,500.........4,687,500 A. For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days sales in receivables. (Round to the nearest dollar and one decimal place.) B. What conclusions can be drawn from these data concerning accounts receivable and credit policies?
 

May 23 2020 View more View Less

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