Question Content Area Accounts Receivable Turnover and Days' Sales in Receivables Classic Company designs, markets, and distributes a variety of apparel, home decor, accessory, and fragrance products. The companys products include such brands as Polo by Classic, Classic Purple Label, Classic, Polo Jeans Co., and Chaps. Polo Classic reported the following for two recent years: For the Period Ending Year 2 Year 1 Sales $5,898,400 $5,807,880 Accounts receivable 576,700 591,300 Assume

Accounts Receivable Turnover and Days' Sales in Receivables Assume that accounts receivable were $525,600 at the beginning of Year 1 . a. Compute the accounts receivable turnover for Year 2 and Year 1. Round your answers to two decimal places. Year 2: Year 1: b. Compute the days' sales in receivables for Year 2 and Year 1. Round your final answers to one decimal place. Use 365 days per year in your calculations. c. The change in the accounts receivable turnover from year 1 to year 2 indicates a(n) - in the efficiency of collecting accounts receivable and is a(n) - change. The change in the days' sales in receivables is a(n) - change