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10 of 28 < > Show Attempt History Current Attempt in Progress The following data are taken from the financial statements of Sheffield Company. 2022
10 of 28 < > Show Attempt History Current Attempt in Progress The following data are taken from the financial statements of Sheffield Company. 2022 2021 Accounts receivable (net), end of year $570,000 $495,000 Net sales on account 3,940,500 3,053,500 Terms for all sales are 1/10, n/45 Compute for each year the average collection period. At the end of 2020, accounts receivable (net) was $490,000. (Use 365 days for calculation. Round answers to 1 decimal place, e.g. 1.6.) Average collection period 2022 days 2021 days
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