Data from the accounting records of Wise Company are presented here. Accounts receivable Net sales 2025 2025 Accounts receivable turnover 2025 Collection period Calculate accounts receivable turnover and the average collection period for 2025 and 2024. (Use 365 days for calculation. Round intermediate calculations to the nearest whole number, and round final answers to two decimal places (e.g., 12.30).) 2024 Accounts receivable turnover 2024 Collection period 2024 $35,030 $32,070 $32,930 392,535 388,700 282,100 2023 11.20 times 12.12 times 32.56 days 30.12 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