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Banana hospital has annual patient service revenues of $ 6 2 , 6 6 6 , 0 0 0 . It has two major third

Banana hospital has annual patient service revenues of $62,666,000. It has two major third-party payers, and some of its patient are self-payers. The hospitals patient accounts manager estimates that 15% of the hospitals billings are paid (received by the hospital) on day 30,55% are paid on day 60, and 30% are paid on day 90.
1. What is Banana hospitals average collection period (ACP)?
2. What would be the hospitals new receivables balance if a newly proposed electronic claims system resulted in collecting from third-party payers in 15,45 and 75 days, instead of 30,60and 90 days?

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