1. Average Accounts Receivable, Accounts Receivable Turnover Ratio, Accounts Receivable Turnover in Days

   Montalcino Company had net sales of $350,000. Montalcino had the following balances:

   	January 1	December 31
   Accounts receivable	$82,400	$57,600
   Inventories	117,000	108,000

   Required:

   Assume 365 days per year.

   1. Calculate the average accounts receivable. $

   2. Calculate the accounts receivable turnover ratio. Round to one decimal place. times

   3. Calculate the accounts receivable turnover in days. Round to one decimal place. days

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