The following data are taken from the financial statements of Basinger Inc. Terms of all sales are 2/10, n/45.

a. For 20Y2 and 20Y3, determine 

(1) The accounts receivable turnover and 

(2) The number of days’ sales in receivables. Round to the nearest dollar and one decimal place.

b. What conclusions can be drawn from these data concerning accounts receivable and credit policies?

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20Y3 20Υ2 5 476,800 4,125,280 $ 420.000 3,347,400 20Y1 $377,000 Accounts receivable, end of year Sales on account