Financial Statement Data for the Years Ended December 31 for Parker

question 173

Essay

Financial statement data for the years ended December 31 for Parker Corporation are as follows: (a) Determine the accounts receivable turnover for each year. Round to one decimal place.(b) Determine the number of days' sales in receivables for each year. Round to whole days.(c) Does the change in accounts receivable turnover and number of days' sales in receivables from
the first year to the second year indicate a favorable or unfavorable trend?

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