Assume that Hickory Company has the following data related to its accounts receivable: Net sales. Net receivables:

Assume that Hickory Company has the following data related to its accounts receivable:

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Net sales. Net receivables: Beginning of year End of year. 2002 2003 $1,425,000 $1,650,000 375,000 420,000 333,500 375,000 Use these data to compute accounts receivable turnover ratios and average collection peri- ods for 2002 and 2003. Based on your analysis, is Hickory Company managing its receivables better or worse in 2003 than it did in 2002?