Question: The following information is from the annual financial statements of Waseem Company. Compute its accounts receivable turnover for 2010 and 2011. Compare the two years results and give a possible explanation for any change (competitors average a turnover of 11).
2011 2010 2009
Net sales . . . . . . . . . . . . . . . . . . . $305,000 $236,000 $288,000
Accounts receivable, net (year-end) . . . . 22,900 20,700 17,400