Accounts Receivable Turnover and Average Collection Period Ting VanPoole Corporation disclosed the following financial information (in millions) in its recent annual report: Net sales Year 1 Year 2 $250,644 $272,493 38,909 38,349 38,349 38,074 Beginning accounts receivable (net) Ending accounts receivable (net) a. Calculate the accounts receivable turnover ratio for both years. b. Calculate the average collection period for both years. Notes: 1. Round all answers to one decimal place, 2. Use rounded answer from part a. to compute the average collection period. Year 1 7.13 x Year 2 6.49 X a. Accounts receivable turnover b. Average collection period (days) 56 v 7.13 X c. Is the company's accounts receivable management improving or deteriorating? improving