The following data are taken from the comparative balance sheets of Grayling

Question

The following data are taken from the comparative balance sheets of Grayling Company. Compute and interpret its accounts receivable turnover for Year 2. Competitors average a turnover of 7.5. How is the company doing in relation to its competitors?

	Year 2	Year 1
Accounts receivable, net	180,230	220,450
Net sales	1,500,750	1,495,600

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