Exercise 7-22 (Algo) 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 $ 272,000 29,200 Year 2 $ 203,000 27,000 Year 1 $ 244,000 23,700 (1) Compute its accounts receivable turnover for Year 2 and Year 3. (2) Assuming its competitor has a turnover of 14.5, is Raheem performing better or worse at collecting receivables than its competitor? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute its accounts receivable turnover for Year 2 and Year 3. Accounts Receivable Turnover Choose Numerator: 1 Net sales Year 2: $ Year 3: $ 203,000 1 272,000 1 Choose Denominator: 1 Average accounts receivable, net = = = = Accounts Receivable Turnover Accounts receivable turnover < Required 1 Required 2 > 0 times 0 times