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The Following Data Are Taken from the Comparative Balance Sheets

question 97

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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?
 Year 2  Year 1 Accounts receivable, net 180,230220,450 Net sales 1,500,7501,495,600\begin{array} { l l l } & \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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