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Greg's Bakery has the following accounts and amounts for 2013. Based on this information, what is Greg's average collection period for 2013? Account Title Balance

Greg's Bakery has the following accounts and amounts for 2013. Based on this information, what is Greg's average collection period for 2013?

Account Title Balance
Accounts receivable, 1/1 35,000
Cost of goods sold 85,000
Sales revenue 230,000
Accounts receivable, 12/31 20,500
Total assets, 1/1 170,000
Inventory, 12/31 12,100
Total assets, 12/31 140,500
Inventory, 1/1 18,500

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