The following data are taken from the financial statements of 164228
The following data are taken from the financial statements of Mercado Decorations:


(a) Compute for each year
(1) The receivables turnover and
(2) The average collection period.
At the end of 2007, accounts receivable (net) was $490,000.
(b) What conclusions about the management of accounts receivable can be drawn from thesedata?
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