Presented below is information for Blue Company 1. 2. 3. Beginning of-the-year Accounts Receivable balance was $18,700. Net sales (all on account) for the year were $106,300. Blue does not offer cash discounts. Collections on accounts receivable during the year were $88,700. Prepare (summary) journal entries to record the items noted above. (If no entry is required, select "No Entry" for the account titles and enter for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually) No. Account Titles and Explanation Debit Credit 1. No Entry No Entry 2 Accounts Receivable 106300 Sales Revenue 106300 3 Cash 88700 Accounts Receivable 88700 (b) Compute Blue's accounts receivable turnover and days to collect receivables for the year. The company does not believe it will have any bad debts. (Round answers to 2 decimal places, eg. 4.57) times Accounts receivable turnover Days to collect accounts receivable days