Dome Metals has credit sales of $270,000 yearly with credit terms of net 90 days, which is also the average collection period. Dome does not offer a discount for early payment, so its customers take the full 90 days to pay.

a.	What is the average receivables balance? (Use a 360-day year.)

Average receivables balance

$

b.	What is the receivables turnover? (Use a 360-day year.)

Receivables turnover

times