Kyoto Joe, Inc., sells earnings forecasts for Japanese securities. Its credit terms are 1/20, net 40. Based on experience, 65 percent of all customers will take the discount.

a.	What is the average collection period for the company? (Use 365 days a year. Do not round intermediate calculations and round your answer to 2 deceimal places, e.g., 32.16.)
b.	If the company sells 1,450 forecasts every month at a price of $1,240 each, what is its average balance sheet amount in accounts receivable?