Presented below is information for Coronado Company.

Beginning$-$of$-$the$-$year Accounts Receivable balance was $$24,400.$

Net sales $($all on account$)$ for the year were $$104,900.$ Coronado does not offer cash discounts.

Collections on accounts receivable during the year were $$86,100.$

Coronado is planning to factor some accounts receivable at the end of the year. Accounts totaling $$12,300$ will be transferred to

Credit Factors, Inc. with recourse. Credit Factors will retain $7\%$ of the balances for probable adjustments and assesses a finance

charge of $6\%.$ The fair value of the recourse obligation is $$1,108.$

$($a$).$

$($b$1)$

Compute Coronado's accounts receivable turnover for the year, assuming the receivables are sold. $($Round answers to $2$ decimal

places, e$.$g$.4\mathrm{.}57.$ Use $365$ days for calculation.$)$

Accounts receivable turnover

times

Days to collect accounts receivable

days

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