Prepare the current assets section of the statement of financial position for Ivanhoe Retail, assuming that in addition to the

receivables it has cash of $R$$$93,000,$ merchandise inventory of $R$$$172,000,$ and supplies of $R$$$18,000.($List Current Assets in reverse

order of liquidity.$)$

IVANHOE COMPANY

Balance Sheet $($Partial$)$

$R$$

$R$$

$-$

Calculate the accounts receivable turnover and average collection period. Assume that average net accounts receivable were

$R$$$200,000.($Use $365$ days for calculation. Round average collection period to $1$ decimal place, e$.$s$.15\mathrm{.}1.)$

Accounts receivable turnover

times

Average collection period

days