$4$

a$)$ Calculate the "Receivables turn over ratio" and "Receivable collection period of the following: $(12)$ Marks$)$

$1.$ Sales of the year: $$677,000$; Account Receivable at year end: $$274,000$

ii$.$ Sales of the year $$1,498,977$; Account Receivable at year end: $$776,342$

ii$.$ Also explain the turnover ratio and days sales in receivable for each scenario above