Exercise 7-17 Accounts receivable turnover LO A1 The following information is from the annual financial statements of Raheem Company. Net sales Year 3 $397,000 31,400 Year 2 $328,000 29,200 Year 1 $373,000 25,900 Accounts receivable, net (year-end) (1) Compute its accounts receivable turnover for Year 2 and Year 3. Accounts Receivable Turnover Choose Denominator: Choose Numerator: - = Accounts Receivable Turnover Accounts receivable turnover times times Year 2: Year 3: (2) Assuming its competitor has a turnover of 19.7, is Raheem performing better or worse at collecting receivables than its competitor? Better Worse