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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: 2015 2016 Net

Accounts Receivable Turnover and Average Collection Period The Longo Corporation disclosed the following financial information (in millions) in its recent annual report:

2015 2016
Net Sales $127,086 $112,550
Beginning accounts receivable (net) 8,896 7,740
Ending Accounts receivable (net) 7.740 6,598

a. Calculate the accounts receivable turnover ration for both years

b. Calculate the average collection period for both years

c. Is the company's account receivable management improving or deteriorating?

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