1) Oral Roberts Dental Supplies has annual sales of $5,895,000. Eighty percent are on credit. The firm has $576,400 in accounts receivable. Compute the value of the average collection period. (Do not round intermediate calculations. Use a 360-day year.)

Average collection period

days

2) Knight Roundtable Co. has annual credit sales of $612,000 and an average collection period of 40 days in 2008. What is the companys average accounts receivable balance? (Use a 360-day year.)

Average accounts recievable balance