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).
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2011
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2010
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2009
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Net sales
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$305,000
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$236,000
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$288,000
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Accounts receivable, net (year-end)
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22,900
|
20,700
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17,400
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