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The following data are taken from the financial statements of Sigmon Inc. Terms of all sales...

The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45.

20Y3 20Y2 20Y1
Accounts receivable, end of year $113,600 $120,000 $128,200
Sales on account 747,520 732,190

a. For 20Y2 and 20Y3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round answers to one decimal place. Assume a 365-day year.

20Y3 20Y2
1. Accounts receivable turnover
2. Number of days' sales in receivables days days

b. The collection of accounts receivable has  . This can be seen in both the   in accounts receivable turnover and the   in the collection period.

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