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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 $ 402,000 40,300 Year
The following information is from the annual financial statements of Raheem Company. Net sales Accounts receivable, net (year-end) Year 3 $ 402,000 40,300 Year 2 $333,000 38,100 Year 1 $ 387,000 34,800 (1) Compute its accounts receivable turnover for Year 2 and Year 3. (2) Assuming its competitor has a turnover of 15.4, 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. Choose Numerator: Year 2:1 Year 3:1 Accounts Receivable Turnover Choose Denominator: Accounts Receivable Turnover Accounts receivable turnover times times Required 1 Required 2 >
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