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PWX Inc. has the following information for its years ended June 30: Required: Calculate the accounts receivable turnover and average collection period for 20X3 and

PWX Inc. has the following information for its years ended June 30:

Required:Calculate the accounts receivable turnover and average collection period for 20X3 and 20X2. Comment on the trend. What additional information would an analyst require to properly understand this trend?

Gross sales Accounts receivable 20X3 $567,800 $ 62,500 20X2 $650,700 $ 67,500 20X1 $589,200 $ 53,200

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