Camden Hardware's credit sales for the year were $570,000. Accounts receivable at the beginning and end of the year were $50,000 and $70,000, respectively. a. Calculate the accounts receivable turnover ratio. b. Calculate the average collection period for the year. (Round your answers to 2 decimal places. Use 365 days a year.) Receivables Turnover Ratio Choose Denominator: Choose Numerator: 1 Receivables Turnover Ratio = Receivables turnover ratio a = times Average collection period Choose Denominator: Choose Numerator: = 1 1 Average collection period Average collection period b = days