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The Following Information Is Available from the Annual Reports of Nite

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The following information is available from the annual reports of Nite and Day Companies.
(In millions) The following information is available from the annual reports of Nite and Day Companies. (In millions)   Instructions (a) Based on the preceding information, compute the following for each company: 1. Accounts receivable turnover. (Assume all sales were credit sales.) 2. Average collection period. (b) What conclusion concerning the management of accounts receivable can be drawn from these data? Instructions
(a) Based on the preceding information, compute the following for each company:
1. Accounts receivable turnover. (Assume all sales were credit sales.)
2. Average collection period.
(b) What conclusion concerning the management of accounts receivable can be drawn from these data?

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