Horizontally analyze the financial data in Exercise 17-9. (b) Calculate how many days it took Sigmon Inc. to collect its recieivables (i.e. Sigmon's average collection period) in 20Y3. Show your work.

The following data are taken from the financial statements of Sigmon Inc. Terms of all sales are 2/10, n/45 20Y3 20Y2 20Y1 Accounts receivable, end of year Sales on account 725,000 650,000 4,687,500 $600,000 5,637,500