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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$138,073$152,732Beginning Accounts Receivable (net)6,8966,696Ending Accounts Receivable (net)6,6969,898 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 365 days for calculation. Round to the nearest whole number.)Is the company's accounts receivable management improving or deteriorating?

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