Accounts Receivable Analysis The following data are taken from the financial statements of Rise and Shine Company. Terms of all sales are 2/10, n/30. Year 2 $113,000 Accounts receivable, end of year Sales Year 3 $106,000 689,850 665,760 Year 1 $120,600 a. For Years 2 and 3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Assume there are 365 days in the year. Round intermediate calculations to the nearest whole dollar and final answers to one decimal place. Year 3 Year 2 aggressive in collecting accounts receivable or 1. Accounts receivable turnover 2. Number of days' sales in receivables days days b. What conclusion can be drawn from these data concerning accounts receivable and credit policies? The collection of accounts receivable has improved became This can be seen in the decrease in accounts receivable turnover and the reduction restrictive in granting credit to customers in Year 3. in the collection period. The company either

AI - E H E AutoSave Normal Document1 - Word Search badiya aldujaili ff BА EN File Home Insert Draw Design Layout References Mailings Review View Help A Share O Comments X Cut Calibri (Body) 11 - A A Aav A E E AaBbCcDc AaBbCcDc AaBbC AABBCCC AaB AAB6CCC AaBbCcDa O Find - A Copy Paste S Replace В IUvab х, х* А I Normal 1 No Spac. Heading 1 Heading 2 Title Subtitle Subtle Em.. A Select v Dictate Editor Format Painter Clipboard Font Paragraph Styles Editing Voice Editor 1. 2 4 7 Use the following information to answer the next 3 questions Kite Corp. manufactures custom cabinets and uses a job-order costing system. The company had two jobs in process at the beginning of October: Job No. 64 with a total beginning cost of $56,700 and Job No. 65 with a total beginning cost of $83,300. The company applies manufacturing overhead on the basis of machine hours. Budgeted overhead and machine activity for the year were anticipated to be $3,021,000 and 57,000 machine hours. The company worked on four…

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