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4. The latest annual report for Miller Beverages, Inc. included the following information: 2021 2020 Accounts Receivable $881,500 $903,000 Less: Allowance for doubtful accounts 6,780

4. The latest annual report for Miller Beverages, Inc. included the following information:

2021

2020

Accounts Receivable

$881,500

$903,000

Less: Allowance for doubtful accounts

6,780

9,010

Net accounts receivable

874,720

893,990

Net credit sales

$4,377,000

Required: 1. What is the 2021 receivables turnover ratio? What does it say about the company? 2. What is the 2021 average collection period for receivables? What does it say about the company?

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