Burton and Associates, LLCs income statement for the year ended December 31, 2021, included $2,875,069 of sales, all of which were credit sales. Its comparative balance sheets for December 31, 2020, and December 31, 2021, included $341,067 and $362,213 of accounts receivable, respectively, the aging of which is included below:

Burton and Associates, LLCs comparative balance sheets include no reserve for bad debts at December 31, 2020, or December 31, 2021. Assuming the companys payment terms are 30 days, do the following:

1. Calculate accounts receivable turnover for 2021.
2. Calculate the average collection period for 2021.
3. Comment on the status of the companys accounts receivable at December 31, 2021. Do collections seem to be improving? Explain your answer.

Burton and Associates, LLC Aging of Accounts Receivable As of December 31, 2020 Days Outstanding Burton and Associates, LLC Aging of Accounts Receivable As of December 31, 2021 Days Outstanding 0-30 31-60 61-90 0-30 31-60 61-90 90+ $ 26,114 $ $ 22,538 98,115 13,104 9,221 101,260 10,266 109,566 Customer Crawley, Inc. Franklin Co. Gilmore and Co. Integrity Co. J. Jenkins, Inc. Jones, LLC M. Pekala, LLC Stettler, Inc. Taylor Co. XYZ, Inc. 33,335 3,133 90+ Customer - Crawley, Inc. Franklin Co. Gilmore and Co. 85,250 Integrity Co. J. Jenkins, Inc. Jones, LLC M. Pekala, LLC Stettler, Inc. Taylor Co. XYZ, Inc. 21,000 20,118 166 8,966 7,023 6,788 26,951 1,046 16,402 6,541 6,994 22,009 9,102 15,021 9,029 14,222 Totals $ 200,933 $ 18,416 $ 36,468 $ 85,250 Totals $ 154,386 $ 166,709 $ $ 41,118 Burton and Associates, LLC Aging of Accounts Receivable As of December 31, 2020 Days Outstanding Burton and Associates, LLC Aging of Accounts Receivable As of December 31, 2021 Days Outstanding 0-30 31-60 61-90 0-30 31-60 61-90 90+ $ 26,114 $ $ 22,538 98,115 13,104 9,221 101,260 10,266 109,566 Customer Crawley, Inc. Franklin Co. Gilmore and Co. Integrity Co. J. Jenkins, Inc. Jones, LLC M. Pekala, LLC Stettler, Inc. Taylor Co. XYZ, Inc. 33,335 3,133 90+ Customer - Crawley, Inc. Franklin Co. Gilmore and Co. 85,250 Integrity Co. J. Jenkins, Inc. Jones, LLC M. Pekala, LLC Stettler, Inc. Taylor Co. XYZ, Inc. 21,000 20,118 166 8,966 7,023 6,788 26,951 1,046 16,402 6,541 6,994 22,009 9,102 15,021 9,029 14,222 Totals $ 200,933 $ 18,416 $ 36,468 $ 85,250 Totals $ 154,386 $ 166,709 $ $ 41,118