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Camden Hardwares credit sales for the year were $420,000. Accounts receivable at the beginning and end of the year were $46,000 and $66,000, respectively. Calculate

Camden Hardwares credit sales for the year were $420,000. Accounts receivable at the beginning and end of the year were $46,000 and $66,000, respectively.

  1. Calculate the accounts receivable turnover ratio.
  2. 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.

receivable turnover ratio _________ times
average collection period _________ days

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