(Solution) - The following data are taken from the financial -(2025 Original AI-Free Solution)

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The following data are taken from the financial statements of Morganstern Company.

(a) Compute for each year (1) the receivables turnover and (2) the average collection period. At the end of 2011, accounts receivable (net) was $480,000.
(b) What conclusions about the management of accounts receivable can be drawn from thesedata?