The Following Data Are Taken from or Calculated from the Financial

Essay

The following data are taken from or calculated from the financial statements: $\begin{array}{lrr}&\text { Current } & \text { Preceding } \\&\text { Year } & \text { Year }\\\text { Average accounts receivable (net) } & \$ 123,000 & \$ 95,000 \\\text { Sales on account } & 950,000 & 825,000\end{array}$ ​ (a) Assuming that credit terms on all sales are $n / 45$ , determine for each year (1) the accounts receivable turnover and (2) the number of days' sales in receivables.
Round intermediate calculations to whole numbers and final answers to two decimal places.
(b) Comment on any significant trends revealed by the data. ​