The following data are taken from the financial statements of Krawcheck Inc. Terms of all sales are 2/10, n/55.

	2016		2015		2014
Accounts receivable, end of year	$500,000		$475,000		$440,000
Net sales on account	3,412,500		2,836,500

a. For 2015 and 2016, determine (1) the accounts receivable turnover and (2) the number of days' sales in receivables. Round interim calculations to the nearest dollar and final answers to one decimal place. Assume a 365-day year.

	2016		2015
1. Accounts receivable turnover
2. Number of days' sales in receivables		days		days

b. The collection of accounts receivable has . This can be seen in both the in accounts receivable turnover and the in the collection period.