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Mongo Bongo sells $7,500 of its bongos on credit on a daily basis. Because Mongo Bongo deals with beatniks, it takes 75 days to collect

Mongo Bongo sells $7,500 of its bongos on credit on a daily basis. Because Mongo Bongo deals with beatniks, it takes 75 days to collect its A/R.

(1a) What is the average A/R that is reported on Mongos balance sheet?

(1b) What is Mongo Bongos A/R turnover (using a 360 dayyear)?

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