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The following information about Steve Corp's Accounts Receivable and Sales are presented below. Year 2016-Beginning...

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The following information about Steve Corp's Accounts Receivable and Sales are presented below. Year 2016-Beginning Balance of A/R. gross = $791M Year 2016-Ending Balance of A/R, gross = $807M Year 2016-Sales = $3,002M Assumptions: Sales growth will be equal to 6% per year A/R, turnover will stay constant throughout the forecast period Required: a. Using this information, forecast Steve Corp's the growth in Accounts Receivable for years 2017-2021. b. What problem does a constant A/R turnover assumption cause? C. Provide a solution to the problem caused by a constant A/R turnover assumption

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