The following data exist for Sexton Company:
Calculate the receivables turnover and the average days' sales uncollected for 2014.(Round to 1 decimal point and even days,respectively. )
Definitions:
Maximum Return
The highest possible profit or gains that can be achieved from an investment or business venture.
Income From Operations
The profit realized from a business's ongoing operations, excluding any income derived from investments or extraordinary one-time events.
Residual Income
The amount of income that remains after all personal debts and expenses have been paid.
Minimum Acceptable
The lowest level or standard that is satisfactory or allowable.
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