Continuing Company Analysis --Amazon: Accounts receivable tumover and number of daye sale in receivables Amazon.com, Inc. is one of the largest Internet retailers in the world. Best Buy, Inc. is a leading retailer of consumer electronics and media products in the United States Amazon and best buy compete in similar markets, however, Best Buy sells through both traditional retail stores and the Internet, while Amazon sells only through the Internet, Sales and accounts receivable informatio for both companies for a recent period follows (in Millions) Amaron Best Buy Sales $88,088 $40,339 Accounts receivable Beginning of year 4,767 1,300 End of year 5,612 1.250 * Determine the accounts recevable turnover for each company. Round all calculations to one decimal place, Amaron Best Buy Accounts Receivable Turnover b. Determine the number of day sales in receivables for each company. Use 365 days and round all calculations to one decimal pice Amazon Best Buy Number of Days Sales in Receivables 6. With regard to eliciency in collecting accounts receivable between the two companies which of the following statements is correct) 1. Best Buy is more efficient than Amaron in turning accounts receivable inte cash 2. Amazon is more efficient than est buy in turning accounts receivable into cash 3. Both Amazon and Best Buy are equally efficient in turning accounts receivable into cach 4 both Amazon and Best Buy are equally inuent tuming accounts receivable into cath d. What might explain the difference in the above ratios? 1. Difference in the type of customers served by the two companies 2. Difference in the products sold by the two companies 3. Difference in the purchasing policies of the two companies Difference in the management of funds