At December 31, 2017. Espresso Imports Inc. reported this information on its balance sheet. Accounts receivable Less: Allowance for doubtful accounts $644,000 40.000 During 2018, the company had the following summary transactions related to receivables and sales. Espresso uses the perpetual inventory system. 1. 2. 3. Sales on account amounted to $2.715,000. The cost of the inventory sold was $2,443,500. Sales returns and allowances with a total sales price of $41,000 and a cost of $36,900 were restored to inventory. Collections of accounts receivable were $2,393,000. Write-offs of accounts receivable deemed uncollectible, $44,900. Recovery of bad debts previously written off as uncollectible, $15.100. 4. 5. Calculate the receivables turnover ratio and average collection period. (Round receivables turnover to 1 decimal place, es. 5.2. Round average collection period to nearest whole day, 03.15) Receivables turnover ratio times Average collection period days