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The following information is from the annual financial statements of Raheem Company. Year 3 Year 2 Year 1 Net sales $ 351,000 $ 282,000 $
The following information is from the annual financial statements of Raheem Company. Year 3 Year 2 Year 1 Net sales $ 351,000 $ 282,000 $ 329,000 Accounts receivable, net (year-end) 47,900 45,700 42,400 (1) Compute its accounts receivable turnover for Year 2 and Year 3. (2) Assuming its competitor has a turnover of 11.2, is Raheem performing better or worse at collecting receivables than its competitor?
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