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Accounts Receivable Turnover and Average Collection Period The Longo Corporation disclosed the following financial information ( in millions ) in its recent annual report:Previous YearCurrent
Accounts Receivable Turnover and Average Collection Period The Longo Corporation disclosed the following financial information in millions in its recent annual report:Previous YearCurrent YearNet Sales$$Beginning Accounts Receivable netEnding Accounts Receivable net Calculate the accounts receivable turnover ratio for both years. Round your answer to two decimal points.Calculate the average collection period for both years. Use days for calculation. Round to the nearest whole number.Is the company's accounts receivable management improving or deteriorating?
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