Accounts Receivable Analysis The following account balances are taken from the records of the Nearto Travel Agency: December 31 2017 2016 2015 Accounts receivable $185,000 $100,000 $80,000 Net credit sales $600,000 $545,000 Nearto extends credit terms requiring full payment in 60 days, with no discount for early payment. Required: (Assume 360 days in a year.) 1. Nearto's accounts receivable turnover ratio for 2017 and 2016, respectively, are 4.2 times and 5.9 times 2. Its number of days' sales in receivables for 2017 and 2016, respectively, are 86 days and 59 days payment term sales which seems to be the case here. However, the 3. The average age of its receivables for 2017 is company may find that allowing than the credit period. The company may decide that allowing a time to pay could cause problems