Presented below is information for Wildhorse Company. Beginning-of-the-year Accounts Receivable balance was $21, 500. Net sales (all on account) for the year were $109, 100. Wildhorse does not offer cash discounts. Collections on accounts receivable during the year were $88, 900. Prepare (summary) journal entries to record the items noted above. Compute Wildhorse's accounts receivable turnover and days to collect receivables for the year. The company does not believe it will have any bad debts. Use the results to analyze Wildhorse's liquidity. The turnover ratio last year was 6.2