The following data are taken from the financial statements of Wildhorse Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 (a) 2025 $594,200 4,842,800 Accounts receivable turnover Compute for each year the accounts receivable turnover. At the end of 2023, accounts receivable (net) was $542,00 2024 $ 616,500 4,054,750 2025 times 2024 times

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is