The following information is from the annual financial statements of Raheem Company. Year 3 Year 2 Year 1 Net sales Accounts receivable, net (year-end) $ 419, 000 27, 100 $ 350,000 24,900 $ 403,000 21, 600 (1) Compute its accounts receivable turnover for Year 2 and Year 3. (2) Assuming its competitor has a turnover of 24.2, is Raheem performing better or worse at collecting receivables than its competitor? Complete this question by entering your answers In the tabs below. Required 1 Required 2 Assuming its competitor has a turnover of 24.2, is Raheem performing better or worse at collecting receivables than its competitor? Is Raheem performing better or worse at collecting receivables than its competitor?

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is