Accounts Receivable Analysis

The following data are taken from the financial statements of Basinger Inc. Terms of all sales are $2/10,$ n$/45.$

$20$Y$320$Y$220$Y$1$

Accounts receivable, end of year $$196,800$ $$212,000$ $$226,000$

Sales on account $1,144,6401,073,100$

a$.$ For $20$Y$2$ and $20$Y$3,$ determine $(1)$ the accounts receivable turnover and $(2)$ the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a $365-$day year.

$20$Y$320$Y$2$

$1.$ Accounts receivable turnover fill in the blank $1$

fill in the blank $2$

$2.$ Number of days' sales in receivables fill in the blank $3$

days fill in the blank $4$

days

b$.$ The collection of accounts receivable has

$.$ This can be seen in both the

in accounts receivable turnover and the

in the collection period.