The following data are taken from the financial statements of Colby Company, 2022 2021 Accounts receivable (net), end of year $ 550,000 $ 540,000 Net sales on account 4,300,000 4.000.000 Terms for all sales are 1/10,1/45 2022 7.9 times 2021 7.5 times Accounts receivable turnover 2022 46.2 days 2021 48.7 days Average collection period (62) What conclusions about the management of accounts receivable can be drawn from these data? At the end of 2020, accounts receivable was $520.000