The following data are taken from the financial statements of Colby Company. Accounts receivable (net), end of year Net sales on account Terms for all sales are 1/10, n/45 2020 $585,000 3,993,750 2019 $540,000 3,087,000 x Your answer is incorrect. Try again. Compute for each year the accounts receivable turnover. At the end of 2018, accounts receivable was $440,000.( 2020 2019 Accounts receivable turnover 7.9 7.5 times times LINK TO TEXT x Your answer is incorrect. Try again. Compute for each year the average collection period. At the end of 2018, accounts receivable was $440,000. (Use 2020 2019 Average collection period 46.2 48.7 days days Click if you would like to Show Work for this question: Open Show Work