The Following Data Are Taken from or Calculated from the Financial

question 160

Essay

The following data are taken from or calculated from the financial statements: $\begin{array}{lrr}&\text { Current } & \text { Preceding } \\&\text { Year } & \text { Year }\\\text { Average accounts receivable (net) } & \$ 123,000 & \$ 95,000 \\\text { Sales on account } & 950,000 & 825,000\end{array}$ ​ (a) Assuming that credit terms on all sales are $n / 45$ , determine for each year (1) the accounts receivable turnover and (2) the number of days' sales in receivables.
Round intermediate calculations to whole numbers and final answers to two decimal places.
(b) Comment on any significant trends revealed by the data. ​

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Definitions:

Pharmacodynamics

The branch of pharmacology dealing with the effects of drugs and the mechanisms of their action in the body, including drug-receptor interactions.

Economic Context

The financial environment in which businesses and individuals operate, including factors like job market, inflation, and fiscal policy.

Political Context

The political environment and activities that influence policies, decisions, and societal attitudes.

First Line Agent

A preferred or initial medication or treatment option for a specific condition due to its effectiveness and minimal side effects.