The following information is from the annual financial statements of Raheem Company. Compute its accounts receivable turnover for 2007 and 2008. Compare the two years results and give a possible explanation for any change (competitors average a turnover of 7).

Exercise 7-9 Accounts receivable turnover A1 2008 2007 2006 Net sales . . . . . . . . . . . . . . . . . . . . . . . $405,000 $336,000 $388,000 Accounts receivable (year-end) . . . . . . . 44,800 41,400 34,800