The following data are taken from the financial statements of Cullumber Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 (a) Your answer is correct. 2022 Accounts receivable turnover $587,000 4,922,400 2022 2021 $ 585,000 3,931,275 Compute for each year the accounts receivable turnover. At the end of 2020, accounts receivable was $554,500. (Round answers to 1 decimal place, e.g. 12.5.) 8.4 h times 2021 6.9 times

The following data are taken from the financial statements of Cullumber Company. (a) Youransweris correct. Compute for each year the accounts receivable turnover. At the end of 2020 , accounts receivable was $554,500. (Round answers to 1 decimal place, eg. 12.5.) Compute for each year the average collection period. (Round answers to 1 decimal place, e.g. 12.5. Use 365 days for colculation.)