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 Year 2 Year 1 $427,000 $358,000 $ 406,000 21,500 19,300 16,000 (1) Compute its accounts receivable turnover for Year 2 and Year 3. Accounts Receivable Turnover Choose Numerator: 1 Choose Denominator: Accounts Receivable Turnover Accounts receivable turnover / HE 1 11 times Year 2: Year 3: II times (2) Assuming its competitor has a turnover of 31.4. Is Raheem performing better or worse at collecting receivables than its competitor? Better Worse