Exercise 7-17 Accounts receivable turnover LO A1 The following information is from the annual financial statements of Raheem Company. Net sales Accounts receivable, net (year-end) Year 3 $365,000 44,900 Year 2 Year 1 $296,000 $352,000 42,700 39,400 (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 Year 2: times Year 3: times (2) Assuming its competitor has a turnover of 12.5, is Raheem performing better or worse at collecting receivables than its competitor? Better Worse