Bill's Produce does 60 percent of its business during June, July, and August. For Year Ended For Year Ended December 31, 2008 July 31, 2008 $700,000 $690,000 Net Sales Receivables, less allowance for doubtful accounts: $ 45,000 $ 80,000 Beginning of period (allowance, January 1, $2,000; August 1, $3,000) $ 50,000 $ 85,000 End of period (allowance, December 31, $3,000; July 31, $3,500) Required: a. Compute the days' sales in receivables for July 31, 2008, and December 31, 2008, based on the data above. b. Compute the accounts receivable turnover for the period ended July 31, 2008, and December |31, 2008. c. Comment on the results from (a) and (b)