need Explanation for A and B part thanks

a. Provide a definition for the Average Collection Period Ratio that explains: 1- The main purpose of the Average Collection Period Ratio. (35 words 1.25 pts) 2- When does the Average Collection Period Ratio indicate a company is doing well or doing poorly? (30 words - 1 pt) 3- What are the benefits of comparing a company's results for the Average Collection Period Ratio to its main competitor, to the prior year company results, and to its industry? (35 words - 1.25pts ) b. For Notes Payable: 1- Explain how to compute interest for a $20,000 loan at 7% interest for 5 months. ( 50 words - 1.5 pts)