Kyoto Joe, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 3.0/15, net 60. Based on experience, 40 percent of all customers will take the discount.

a.	What is the average collection period for Kyoto Joe? (Use 365 days a year.)

Average collection period

days

b.	If Kyoto Joe sells 1,060 forecasts every month at a price of $1,900 each, what is its average balance sheet amount in accounts receivable? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

Average balance

$