wg data are taken from the mana statements Average accounts receivable (net) Accounts receivable (net), end of year Sales on account Current Year Preceding Year $123,000 $95,000 129,012 87,516 950,000 825,000 a. Assuming that credit terms on all sales are n/45, determine for each year (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round intermediate calculations to whole number and final answers to two decimal place. 1. The accounts receivable turnover: Current Year 7.72 Preceding Year 8.68 2. The number of days' sales in receivables: Assume a 365-day year Current Year 50 days Preceding Year 39 days b. Comment on any significant trends revealed by the data. Sales increased during the current year, a[n) favorable trend. The accounts receivable turnover has declined Based on credit terms of 1/45, the current year turnover indicates that some receivables are not being collected within the 45-day period. Likewise, the number of days' sales in receivables indicates an) unfavorable trend