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Exercise 17-4 Accounts receivable turnover-calculation and analysis L04 You review the above information for your...

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Exercise 17-4 Accounts receivable turnover-calculation and analysis L04 You review the above information for your daycare business and it reveals decreasing profits despite increasing sales. You hire an analyst who highlights several points, including that "Accounts receivable turnover is too low. Tighter credit policies are recommended along with discontinuing service to those most delayed in payments," How do you interpret these recommendations? What actions do you take? Round calculations to two decimal places

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