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1. ACP and Receivables Turnover: Dawkins, Inc., has an average collection period of 33 days. Its average daily investment in receivables is $64,900. What are

1. ACP and Receivables Turnover: Dawkins, Inc., has an average collection period of 33 days. Its average daily investment in receivables is $64,900. What are annual credit sales? What is the receivables turnover?

2. Size of Accounts Receivable: The Arizona Bay Corporation sells on credit terms of net 30. Its accounts are, on average, 4 days past due. If annual credit sales are $9.25 million, what is the companys balance sheet amount in accounts receivable?

Please explain and do not copy from Chegg. Otherwise i have to report the both answer.

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