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Presented below are selected data from the financial statements of Medtech Company for 2018, 2017, and 2016.

2018 2017 2016 Total assets $487,500 $615,750 $600,000 Net credit sales 600,000 487,500 540,000 Accounts receivable 63,750 60,000 55,500 Net income 11,250 65,000 9,000

A) Calculate Medtech's accounts receivable turnover ratio for 2018 and 2017.

B) What could have caused the change? Explain.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92798666

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