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The following is from the financial statements of Exquisite Ensembles: Net sales Accounts receivable (Dec 31) 2020 $1,260,000 92,800 2019 $1,020,000 88,000 2018 $850,000 84,200 Calculate Exquisite Ensembles' accounts receivable turnover for 2019 and 2020. Compare the two results and give a possible explanation for any significant change. Calculations: 2019 accounts receivable turnover:

The following is from the financial statements of Exquisite Ensembles: Net sales Accounts receivable (Dec 31) 2020 $1,260,000 92,800 2019 $1,020,000 88,000 2018 $850,000 84,200 Calculate Exquisite Ensembles' accounts receivable turnover for 2019 and 2020. Compare the two results and give a possible explanation for any significant change. Calculations: 2019 accounts receivable turnover:

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following is from the financial statements of Exquisite Ensembles: Net sales Accounts receivable (Dec 31) 2020 $1,260,000 92,800 2019 $1,020,000 88,000 2018 $850,000 84,200 Calculate Exquisite Ensembles' accounts receivable turnover for 2019 and 2020. Compare the two results and give a possible explanation for any significant change. Calculations: 2019 accounts receivable turnover:
Transcribed Image Text:The following is from the financial statements of Exquisite Ensembles: Net sales Accounts receivable (Dec 31) 2020 $1,260,000 92,800 2019 $1,020,000 88,000 2018 $850,000 84,200 Calculate Exquisite Ensembles' accounts receivable turnover for 2019 and 2020. Compare the two results and give a possible explanation for any significant change. Calculations: 2019 accounts receivable turnover:
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