Brief Exercise 18-11 b (Essay) The following data are taken from the financial statements of Colby Company. 2020 2018 Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 550,000 $540,000 4,300,000 4,000,000 2020 7.9 times 46.2 days 2019 7.5 times 48.7 days Accounts Receivable turnover Average collection period What conclusions about the management of accounts receivable can be drawn from the accounts receivable turnover and the average collections period Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT