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Question - The following information is taken from the records of Friends Services Ltd.
2019
2018
2017
Accounts receivable
$100,700
$95,400
$89,640
Allowance for doubtful accounts
3,020
2,860
2,690
Sales revenue
2,037,210
1,097,100
1,120,500
Sales discounts
14.521
17,554
16,808
Required -
(a) Calculate the 2019 and 2018 accounts receivable turnover and collection period.
(b) Comment on any improvement or weakening in Friends management of its receivables.
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