13. Summer Fashions had a balance in the Accounts Receivable account of $660,000 at the beginning of the year and a balance of $720,000 at the end of the year. Net credit sales during the year were $5,350,000. The average collection period of the receivables was (a) 45 days. (b) 47 days (c) 49 days. (d) 93 days. 14. Jasper Electrical reported net credit sales of $4,500,000 and cost of goods sold of $2,700,000 for the year. The Accounts Receivable balances at the beginning and end of the year were $450,000 and $480,000, respectively. The receivables turnover ratio was (a) 5.8 times. (b) 9.4 times. (c) 9.7 times (d) 10.0 times