ents from iCloud. 2) The following data are taken from the financial statements of Rand Company: 2020 2019 Monthly average accounts receivable $ 565,000 $ 700,000 Net sales on account $6,200,000 $7,000,000 Terms for all sales are 2/10, n/30 Instructions (a) Compute the accounts receivable turnover and the average collection period for both years. SHOW YOUR WORK. (5 pts) (b) What conclusion can an analyst draw about the management of the accounts receivable? (5 pts) 2020 2019 Accounts Receivable Turnover Average collection period CONCLUSIONS