Business, 05.08.2019 20:30 britann4256

Classic company designs, markets, and distributes a variety of apparel, home decor, accessory, and fragrance products. the company’s products include such brands as polo by classic, classic purple label, classic, polo jeans co., and chaps. polo classic reported the following for two recent years:
for the period ending
year 2 year 1
sales 6,859,5000 5,660,300
accounts receivable 690,000 592,700
assume that the accounts receivable (in millions) were $486,200 at the beginning of year 1.
a. compute the accounts receivable turnover for year 2 and year 1. round to one decimal place. b. compute the days’ sales in receivables for year 2 and year 1. use 365 days and round to one decimal place. c. what conclusions can be drawn from these analyses regarding classic company’s efficiency in collecting receivables?

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