Camden Hardware's credit sales for the year were $286,000. Accounts receivable at the beginning and end of the year were $42,000 and $62,000, respectively. a. Calculate the accounts receivable turnover ratio. b. Calculate the average collection period for the year. Note: Round "Receivables turnover ratio" answer to 2 decimal places and "Average collection period" answer to nearest whole number. Use 365 days a year. a. Receivables turnover ratio b. Average collection period times days

Camden Hardware's credit sales for the year were $286,000. Accounts receivable at the beginning and end of the year were $42,000 and $62,000, respectively. a. Calculate the accounts receivable turnover ratio. b. Calculate the average collection period for the year. Note: Round "Receivables turnover ratio" answer to 2 decimal places and "Average collection period" answer to nearest whole number. Use 365 days a year