Classic Company designs, markets, and distributes a variety of apparel, home decor, accessory, and fragrance products. The company's products include such brands as Polo by Classic, Classic Purple Label, Classic, Polo Jeans Co., and Chaps. Polo Classic reported the following for two recent years: For the Period Ending Year 2 Year 1 Sales Accounts receivable $4,040,550 485,450 Assume that accounts receivable were $441,650 at the beginning of Year 1. $4,002,225 500,050 a. Compute the accounts receivable turnover for Year 2 and Year 1 Round to one decimal place. Year 2: Year 1:1 b. Compute the days' sales in receivables for Year 2 and Year 1. Round to one decimal place. Use 365 days per year in your calculations. Year 2: Year 1:1 days days c. The change in the accounts receivable turnover from year 1 to year 2 indicates a(n) in the efficiency of collecting accounts receivable and is a(n) change. The change in the days' sales in receivables is a(n) change. Previous Next