Based on the following data and using a 365-day year, compute (a) the accounts receivable turnover and (b) the number of days' sales in receivables. The industry average is a collection period of once every 20 days, and the number of days' sales in receivables averages 25. (c) Comment on this situation.
Definitions:
Matorral
A type of scrubland or shrubland plant community found in parts of the Mediterranean region and western North America.
Chaparral
A biome characterized by dense, evergreen shrubbery found in areas with hot, dry summers and mild, wet winters, primarily in the southwestern United States.
Bison
Large, grass-eating mammals found primarily in North America, known for their large size, shaggy hair, and horns.
Temperate Grassland
A biome characterized by wide-open spaces with grasses as the dominant vegetation, experiencing moderate rainfall and distinct seasonal temperature variations.
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