The following is from the financial statements of Exquisite Ensembles:
$$\begin{array} { | l | r | r | r | }
\hline & \text { Year 1 } & \text { Year 2 } & \text { Year 3 } \
\hline \text { Net sales } & \$ 1,260,000 & \$ 1,020,000 & \$ 850,000 \
\hline \text { Accourts receivable (Dec 31) } & 92,800 & 88,000 & 84,200 \
\hline
\end{array}$$ Find the number of days,on average,it takes to collect accounts receivable and provide a possible explanation for any change.

Question

The following is from the financial statements of Exquisite Ensembles:
 $$\begin{array} { | l | r | r | r | } 
\hline & \text { Year 1 } & \text { Year 2 } & \text { Year 3 } \
\hline \text { Net sales } & \$ 1,260,000 & \$ 1,020,000 & \$ 850,000 \
\hline \text { Accourts receivable (Dec 31) } & 92,800 & 88,000 & 84,200 \
\hline
\end{array}$$ Find the number of days,on average,it takes to collect accounts receivable and provide a possible explanation for any change.

Quizplus · Accepted Answer

The Answer of The following is from the financial statements of Exquisite Ensembles:
 $$\begin{array} { | l | r | r | r | } 
\hline & \text { Year 1 } & \text { Year 2 } & \text { Year 3 } \
\hline \text { Net sales } & \$ 1,260,000 & \$ 1,020,000 & \$ 850,000 \
\hline \text { Accourts receivable (Dec 31) } & 92,800 & 88,000 & 84,200 \
\hline
\end{array}$$ Find the number of days,on average,it takes to collect accounts receivable and provide a possible explanation for any change.

The Following Is from the Financial Statements of Exquisite Ensembles