[Practice 3) The following information is available from the financial statements of Amamco Corp. and Brindle Corp.: (in millions) Net sales.......................................................................... Beginning receivables, gross ..... .... Ending receivables, gross..... Amamco Corp. $45,000 22,000 17,500 Brindle Corp. $25,000 3,500 4,000 Instructions (a) Receivables turnover. (Assume all sales were credit sales.) and Average collection period are given to you as below. What conclusion concerning the management of accounts receivable can be drawn from these data? Amamco Corp. Brindle Corp. 1. Receivables turnover 2.3 times 6.7 times 2. Average collection period 159 days 54 days