Problem 1: Points 10. The new controller of the Flexo Paneling Company, makers of modularized office equipment, want to determine the company's accounts receivable collections period. In the June accounting period, the beginning accounts receivable balance was $318,000, and the ending balance was $383,000. Sales for May and June totaled $625,000. Based on this information: Calculate the Average Receivable Collection Period. Provide a brief note on what the results of the calculation mean