Question 22 of 28 -/3 E Current Attemptin progress The following data are taken from the financial statements of Colby Company 2022 Accounts receivable (net), end of year $ 550,000 Net sales on account 4,300,000 Terms for all sales are 1/10,n/45 2021 $ 540,000 4,000,000 Accounts receivable turnover 2022 7.9 times 2021 7.5 times Average collection period 2022 46.2 days 2021 48.7 days (52) What conclusions about the management of accounts receivable can be drawn from these data? At the end of 2020, accounts receivable was $520,000 BIVTTIE E 23 99 O Word(s) MICBOOK AIR