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The following information is from the annual financial statements of Raheem Company. Net sales Accounts receivable, net (year-end) Year 3 $228,000 48,000 Year 2
The following information is from the annual financial statements of Raheem Company. Net sales Accounts receivable, net (year-end) Year 3 $228,000 48,000 Year 2 $ 159,000 45,800 Year 1 $210,000 42,500 (1) Compute its accounts receivable turnover for Year 2 and Year 3. (2) Assuming its competitor has a turnover of 7.3, is Raheem performing better or worse at collecting receivables than its competitor? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute its accounts receivable turnover for Year 2 and Year 3. Year 2: Year 3: Choose Numerator: Accounts Receivable Turnover Choose Denominator: Accounts Receivable Turnover Accounts receivable turnover times times Required 1 Required 2 >
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