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Question 2: 15 marks (Average Collection Period) ABC Company recorded the following Sales and Accounts receivable figures for the years ended 31 December: Additional information:

Question 2: 15 marks (Average Collection Period) ABC Company recorded the following Sales and Accounts receivable figures for the years ended 31 December: Additional information: 1. Of the total sales, 70% are on account 2. Credit policy agreed with its customers is 2/10,n/30 Required: a. Compute the days to collect accounts receivable for the years 2021 and 2022 (show all your workings) (10 marks) b. Comment on the results that you obtain from your calculations. (5 marks) (End of Assignment 3)

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