Accounts Receivable Jumover The Cempbell Soup Company manufactures and markets food products throughout the world. The following sales and receivable data (in malions) were reported by. Campbell soup for two recent years: Assume that the accounts receivable were 5638 million at the beginning of Year 1 . American Eagle Outfitters, Inc, selis eiothing, accesseries, and personal care products for men and women through its retal stores, American Eagle reported the folowing data (in milions) for two recent years: Assume that the accounts receivable were $87 millon at the beginning of Year 1 Aceounts rechivahle turnnver ratiac Use the abeve information to analyme the accounts recelvable turnover ratios of American Eagle Cuthters and Campbell Soup. a. Compute the average accounts receivable turnover ratio for Campbeli Soup and American tagle Outhitters for Year 2 and Year 1 . Round interim calculations and final answers to two decimal places. Use the above information to analyze the accounts receivable turnover ratios of American Eagle Outhitters and Campbel Soup. a. Compute the average accounts receivable tumover ratio for Campbell Soup and American Eagle Outfitters for Year 2 and Year 1. Round interim calculations and final answers to two decimal places. b. Does Campbell Soup or American Eagle have the higher average accounts receivable turnover ratio? has the higher average accounts receivable tumover ratio. c. Explain why the average turnover ratios are different in (b). American Eagle Outfitters operates a specialty retail chain of stores that sells directly to individual consumers. Many of these consumers (retal customers) pay using MasterCard or VISA, which is recorded as cash sales. In contrast, Campbell Soup manufactures foods that are sold to food wholesalers, grocery store chains, and other foed distributors that eventually sell Campbell's products to individual consumers. Accordingly, because of the extended distribution chain, we would expect Campbell Soup to have accounts recelvable than American Eagle. In addibin, we would expect Campbells business customers to take a to pay their recelvables. Thus, we would expect Campbeir's average accounts receivable turnover ratio to be than American Eagle. fremliar Fona Hy Wos Average the accounts receivabie tumover for each company for both years. Which company has the higher average ratio