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The following data are taken from the financial statements of Sheridan Company. 2 0 2 2 2 0 2 1 Accounts receivable ( net )

The following data are taken from the financial statements of Sheridan Company. 20222021 Accounts receivable (net), end of year $580,000 $475,000 Net sales on account 4,009,0003,015,000 Terms for all sales are 1/10, n/45(a1) Compute for each year the accounts receivable turnover. At the end of 2020, accounts receivable (net) was $530,000.(Round answers to 1 decimal place, eg.1.6.)(a2)Compute for each year the average collection period. At the end of 2020, accounts receivable (net) was $500,000.(Use 365 days for calculation. Round answers to 1 decimal place, e.g.1.6.)

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