The following information is from the annual financial statements of Waseem Company. Compute its accounts receivable turnover for 2010 and 2011. Compare the two years results and give a possible explanation for any change (competitors average a turnover of 11).
|
|
2011 |
2010 |
2009 |
|
Net sales |
$305,000 |
$236,000 |
$288,000 |
|
Accounts receivable, net (year end) |
22,900 |
20,700 |
17,400 |