The following annual account balances are taken from ABC Co at year end. Current Year 1 Year Ago
Accounts Receivable $49,500 $48,000
Net Sales $580,000 $535,000
Days Sales Uncollected 31.15 days 32.74 days

Required:
Calculate the number of days' sales uncollected for the Current year and 1 year ago?

What impact might an economic downturn have on a borrower’s fixed-rate mortgage? a. it might cause a borrower’s payments to go up. b. it might cause a borrower’s payments to go down. c. it has no impact because a fixed-rate mortgage cannot change. d. it has no impact because the economy does not affect interest rates.