The following information is available from the annual reports of Nite and Day Companies. (In millions)

7:18 < Back L 4G 37C94177-5BD3-45AE-A... Question 2: The following information IS available from the annual reports of Nite and Day Compames. (In millions) Nite Dav $112,500 S32,ooo Beginning accounts receivable, net 19,000 3500 Ending accounts receivable, net 1 s,500 4,400 Instructions (a) Based on thc preceding information, compute thc following for each company: 1. Accounts receivable turnover. (Assume all sales were credit sales ) 2. Average collection period. (b) What conclusion concerning the management of accounts receivable can be drawn from these data?