Worth 6 points. The following information is taken from the…

Wоrth 6 pоints. The fоllowing informаtion is tаken from the аdjusted trial balance of the Studio Art Supply Company at the end of Year 1: Cash $ 18,000 Accounts receivable 48,500 Allowance for doubtful accounts 2,000 Sales 355,000 Cost of goods sold 198,200 Operating expenses 84,000 Studio Art Supply offers all of its charge customers the credit terms, 2/10, n/30. Required:   SHOW YOUR COMPUTATIONS FOR FULL CREDIT!a) Compute the accounts receivable turnover ratio.b) Compute the average number of days to collect accounts receivable.  Round your answer to a whole number for days.c) Comment on the meaning of these ratios and specifically on how well, or not, this firm is managing its accounts receivable.