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9 A recent annual report for C&L Co. contained the following data: Trade receivables Less: Allowance for Doubtful Accounts Net trade receivables Net sales (assume

9 A recent annual report for C&L Co. contained the following data: Trade receivables Less: Allowance for Doubtful Accounts Net trade receivables Net sales (assume all are on credit) 2019 2018 $1,798 $1,666 12 10 1,786 1,656 $19.805 1. Calculate the receivables tumover ratio and average collection period for both years: a. Receivables turnover b. Average collection period 2. What do these results indicate

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