Section 4 Accounts Receivable Turnover Ratio The following information is from the financial statements of Exquisite Ensembles: YR 2 $1,020,000 88,000 Net sales Accounts receivable (Dec 31) (10 Marks) YR 3 $1,260,000 92,800 YR 1 $850,000 84,200 Required: Calculate Exquisite Ensembles' accounts receivable turnover ratio for YR 2 and YR 3. Compare the two results and give a possible explanation for any significant change.

Accounts Receivable Turnover Ratio (10 Marks) The following information is from the financial statements of Exquisite Ensembles: Required: Calculate Exquisite Ensembles' accounts receivable turnover ratio for YR 2 and YR 3. Compare the two results and give a possible explanation for any significant change