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Kyoto Joe, Incorporated, sells earnings forecasts for Japanese securities . Its credit terms are 3 / 2 0 , net 4 0 . Based on

Kyoto Joe, Incorporated, sells earnings forecasts for Japanese securities. Its credit terms are 3/20, net 40. Based on experience, 65 percent of all customers will take the discount. Assume 365 days per year.
What is the average collection period?
Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g.,32.
If the company sells 1,250 forecasts every month at a price of $2,350 each, what is its average daily balance sheet amount in accounts receivable?
Note: Do not round intermediate calculations and round your answer to 2 decimal places, e.g.,32.16.

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