2: The following information is available from the annual reports of Nite and Day Companies. (In millions) Nite Day Sales revenue $112,500 $32,000 Beginning accounts receivable, net 19,000 3,500 Ending accounts receivable, net 18,500 4,400 Instructions (a) Based on the preceding information, compute the following for each company: 1. Accounts receivable turnover. (Assume all sales were credit sales.) 2. Average collection period. (b) What conclusion concerning the management of accounts receivable can be drawn from these data