QUESTION 17 Knights, Inc.'s 2010 income statement reported net sales of $6,000,000 and net income of $700,000. Knights' average accounts receivable during 2013 amounted to $1,200,000. Using 365 days to a year, which of the following is true concerning Knights Inc.? Accounts receivable turnover rate is approximately 4.4 times Accounts receivable turnover rate is approximately 2.5 times. Accounts receivable turnover rate is approximately 2 times. Average number of days to collect an account receivable is 73 days