Exercise 7-23 Accounts receivable turnover QA1 The following information is from the annual financial statements of Raheem Company. (1) Compute its accounts receivable turnover for Year 2 and Year 3. (2) Assuming its competitor has a turnover of 11, is Raheem performing better or worse at collecting receivables than its competitor? Year 3 Year 2 Year 1 $405,140 Net sales Accounts receivable, net (year-end) $335,280 41,400 $388,000 34,800 44,800 1. A/R Turnover Year 2: A/R Turnover Year 3: 2. Better or worse than competitor? Possible reasons