Dahlia Corporation has a current accounts receivable balance of $444,016. Credit sales for the year just ended were $7,950,350. a. What is the receivables turnover? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. b. What is the days' sales in receivables? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. c. How long did it take, on average, for credit customers to pay off their accounts during the past year? Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16. a. Receivables turnover b. Days' sales in receivables c. Average collection period times days days

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is