The Following Data Are Taken from the Comparative Balance Sheets

question 84

Essay

The following data are taken from the comparative balance sheets of Grayling Company.Compute and interpret its accounts receivable turnover for Year 2.Competitors average a turnover of 7.5.How is the company doing in relation to its competitors?
$\begin{array}{lrr} & \text { Year 2 } & \text { Year 1 } \\\text { Accounts receivable, net } & 180,230 & 220,450 \\\text { Net sales } & 1,500,750 & 1,495,600\end{array}$

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Definitions:

Target Audience

A specific group of consumers identified as the intended recipients of a marketing message, based on demographic, psychographic, or behavioral characteristics.

Frequency

The average number of times a person in the target audience is exposed to a message or an advertisement.

Complex Ideas

Thoughts or concepts that are composed of multiple elements, requiring significant thought or abstraction to understand.

Brand Extensions

The practice of extending an existing brand name to new product categories or markets to leverage existing brand equity.