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Accounts Receivable Analysis The following data are taken from the financial statements of Rise and...

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Accounts Receivable Analysis The following data are taken from the financial statements of Rise and Shine Company. Terms of all sales are 2/10, n/30. Year 3 Year 2 Year 1 Accounts receivable, end of year $ 163,800 $172,000 $178,400 Sales 1,040,980 998,640 a. For Years 2 and 3, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Assume there are 365 days in the year. Round intermediate calculations to the nearest whole dollar and final answers to one decimal place. Year 3 Year 2 1. Accounts receivable turnover 2. Number of days' sales in receivables days days b. What conclusion can be drawn from these data concerning accounts receivable and credit policies? The collection of accounts receivable has This can be seen in the in accounts receivable turnover and the aggressive in collecting accounts in the collection period. The company either became restrictive in granting credit to customers in Year 3. receivable or

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