A Company Reports the Following Results in Its Financial Statements

question 15

Essay

A company reports the following results in its financial statements:
$$\begin{array} { | l | r | r | r | } \hline & \text { Year 3 } & \text { Year } 2 & \text { Year 1 } \\\hline \text { Net sales } & \$ 2,500,000 & \$ 2,050,000 & \$ 1,900,000 \\\hline \text { Accounts receivable, Ending Balance } & 175,000 & 167,000 & 165,000 \\\hline\end{array}$$
Calculate this company's accounts receivable turnover for Year 2 and Year 3. Compare these two results and give a possible explanation for any significant change.

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Definitions:

Members' Satisfaction

Members' Satisfaction measures how happy or content members of a group, organization, or service are with the benefits, services, or experiences provided to them.

Content

Material or information provided as part of media, publications, or the internet, intended for consumption by an audience.

Proceedings

The actions taken or events that occur in a formal context, such as a conference or court.

Task Group Meetings

Gatherings focused on discussing and making progress on specific tasks or projects within an organizational or group context.