Kyoto Joe Inc. sells earnings forecasts for Japanese securities. Its credit terms are 4/10, net 60. Based on experience, 50% of all customers will take the discount.

a.What is the average collection period for Kyoto Joe?(Use 365 days a year.)

Average collection perioddays

b.If Kyoto Joe sells 1,220 forecasts every month at a price of $1,750 each, what is its average balance sheet amount in accounts receivable?Assume 365 days per year.(Do not round intermediate calculations. Round the finalanswer to 2 decimal places. Omit $ sign in your response.)

Average balance$