Based on the following data and using a 365-day year, compute the accounts receivable turn over and 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 19. Comment on this situation.

12/31/99 Accounts Receivable, Net $90,000
12/31/00 Accounts Receivable, Net $70,000
For the year ended 12/31/99, net credit sales $1,250,000
For the year ended 12/31/00, net credit sales
$1,600,000

We do not do homework or study questions, however, we do point students in the right direction, and help when and if they run into road blocks. I have found a great primer on calculating Days' Sales. This site, Accounting Coach, also has a template to use in order to more easily calculate.