Todd Co. reported annual net sales for 2008 and 2009 of $664,000 and $746,000, respectively. Its yearend
balances of accounts receivable follow: December 31, 2008, $65,000; and December 31, 2009,
$93,000. (a) Calculate its days’ sales uncollected at the end of each year. (b) Evaluate and comment on
any changes in the amount of liquid assets tied up in receivables.
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